Congress Probes US Participants in CA 100+

Republican members of the House of Representatives have asked US investor network Ceres and CalPERS, the California-based pension scheme, to share documents and communications relating to their participation in Climate Action 100+, alleging potential breaches of anti-trust laws. In a letter signed by six representatives, including ranking member Jim Jordan, the investor-led initiative, which engages with the world’s largest emitters of greenhouse gases, is charged with operating “like a cartel”. The letter was addressed to Mindy Lubbers, CEO of Ceres, one of five investor networks supporting CA100+, and Simiso Nzima, Managing Investment Director of Global Equity at CalPERS, and a board member of Ceres. It follows a narrow victory in the House of Representatives during recent mid-term elections by the Republican party, which has taken a number of actions at state level against financial institutions over the ESG policies.

 

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