Posted on 12/24/2024 2:23:00 AM PST by Libloather
The Republican-led House Judiciary Committee took aim at a group of US asset managers over their involvement with a “woke ESG cartel” — adding pressure against environmental efforts by large investors.
The committee, chaired by Ohio Rep. Jim Jordan, sent letters to 60 firms — including BlackRock, State Street and JPMorgan Asset Management — that are members of the Net Zero Asset Managers initiative, or NZAM, an international group of investors that signed on to a pledge to achieve net zero emissions by 2050.
The letters, sent Friday, made claims in line with a committee report released on Dec. 13 that Republicans say showed fund firms colluded to cut emissions.
That report found that top asset managers in the US were concerned that signing up for an industry climate initiative would make them look like they worked too closely together and attract regulatory scrutiny.
The committee’s Democrats have dismissed such claims, and big fund firms have denied similar charges.
Jordan alleges in the letter that that companies’ efforts with NZAM and the affiliated Glasgow Financial Alliance for Net Zero “may violate U.S. antitrust law,” citing the earlier report.
It asks for information such as how companies’ participation in NZAM changed their stewardship strategies.
GOP Judiciary Committee members claim that investor preoccupation with environmental, social and governance (ESG) strategies takes the focus away from delivering profits for shareholders and imposes unnecessary restrictions on business.
Republicans previously have taken credit for prompting three fund managers — BlackRock, State Street and JPMorgan Asset Management — to step back from another investor group, the Climate Action 100+.
(Excerpt) Read more at nypost.com ...
They forgot to go after Vanguard... I wonder why. They are #2 in ranking with this crew and BlackRock is ranked #1. State street is #3.
“They are #2 in ranking with this crew and BlackRock is ranked #1. “
Maybe congress should subpoena Pierre Delecto to discuss his collusion with Blackrock on this.
Yeah we know there is collusion for sure. But Biden and Obama are just a small fry in this globalist game. And all but four in Congress are in the pocketbook of BlackRock so all this is going nowhere. It is all just for media exposure. BlackRock will make a few phone calls and it will all be forgotten.
BTTT
.
I hope they go after the Public Employees retirement system (PERS) in California.
NZAM = Nazify America
Pretty sure Vanguard already disassociated.
“Therefore, after a considerable period of review, we have decided to withdraw from NZAM so that we can provide the clarity our investors desire about the role of index funds and about how we think about material risks, including climate-related risks—and to make clear that Vanguard speaks independently on matters of importance to our investors.”
Well that is good. Except for one thing... BlackRock owns the controlling interest in Vanguard. so Vanguard is BlackRock.
But that explains why they are not also listed. Thank you!
Who owns the investment company Vanguard?
ChatGPT said:
ChatGPT
Vanguard is unique in that it is owned by its shareholders, meaning the investors in its funds. Unlike traditional for-profit investment firms, Vanguard operates as a mutual company, where the company itself is owned by the funds it manages, and those funds are in turn owned by the investors in those funds. This structure allows Vanguard to focus on benefiting its investors, as the profits from the company are used to reduce costs for fund shareholders rather than being paid out to external shareholders or owners. This model is one of the key factors behind Vanguard’s reputation for low-cost investing.
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ChatGPT can make mistakes. Check important info.
AI lies about how they really work.
Same smokescreen they want to cover their operations.
They have tricks up their sleeves...
https://www.youtube.com/watch?v=ZxZO0jd8VoU
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