Climate cultist groups are colluding with Wall Street firms. Who knew?

The Republican majority in a U.S. congressional committee published a report on Tuesday accusing Wall Street firms of colluding with advocacy groups to force companies to shrink their greenhouse gas emissions.

The committee’s report, which was reported earlier by Reuters, is the first since it launched an investigation in 2022 into whether corporate efforts to tackle climate change violate antitrust laws.

Several Republican-controlled states have been targeting Wall Street firms for entering into climate coalitions and marketing environmental, social and corporate governance (ESG)-focused investment products, fretting that these initiatives will harm jobs in the fossil fuel industry.

The investigation was conducted by the House Judiciary Committee and the legislative committee concluded that the programs undertaken by this new fangled climate cartel, made up of left-wing environmental organizations and major financial institutions, colluded to force American companies to adopt anti-fossil fuel policies, which have in turn, harmed U.S. consumers. Both of these factors, according to the report, are two necessary elements that establish violations of anti-trust laws.

The Judiciary Committee report documents in harrowing detail how the investor group, Climate Action 100+ bullies and threatens asset managers, weaponizing their climates to force them to join and obey the climate cartel. The report states these activities were conducted to get the companies to reduce their carbon emissions in accordance with the 2015 Paris Agreement. This forces companies to reduce output that, in turn, increases prices to consumers. 

For example, the report details how in 2019, Blackrock, with $8.7 trillion in assets under management, and Vanguard, with $8.2 in assets under management, voted against all of the shareholder proposals backed by Climate Action 100+. Consequently, an anti-fossil fuel nonprofit group, Ceres, began a project to pressure many of the world’s leading asset managers to adjust their corporate pledges to Climate Action’s values. According to the report, doing so would put pressure on recalcitrant companies.

Of course, Climate Action 100 denies the accusations made against them saying it misrepresents what the group did and investors are doing a service for their clients and beneficiaries. One thing is very certain that this kind of activity is another front in environmentalist’s holy war (i.e. green jihad) against mankind. Using or weaponizing the mechanisms of capitalism in order to achieve their efforts to destroy civilization.

Biden’s inflationary scheme is largely to blame for spiking prices at the grocery store and fuel pump. What Climate Action 100 is engaged in is ultimately an attack on the American people. Worst of all, as the House Judiciary Committee report notes, they are not done.