GOP accuses Wall Street firms of climate collusion

House Republicans released a report accusing major investment firms of colluding with climate groups to push for environmentally friendly investing, sparking a new controversy over ESG practices.

Rachel Frazin reports for The Hill.

In short:

House Judiciary Committee Republicans claim BlackRock, State Street, and Vanguard are part of a “climate cartel.”
The report targets activist group Climate Action 100+ for allegedly pressuring asset managers to adopt climate-focused investments.
The GOP criticizes the Biden administration for not investigating these alleged collusions.

Key quote:

“Investors who undertake investor stewardship on climate change are pursuing a common-sense approach driven by the pursuit of delivering the best long-term returns for their clients and beneficiaries.”

— Climate Action 100+ spokesperson

Why this matters:

This controversy highlights the political tension over ESG investing, which influences how major firms allocate resources and address climate change. With extreme weather events becoming more frequent and severe, the urgency for sustainable solutions has never been greater. Advocates argue that the financial sector must play a pivotal role in this transformation by redirecting capital towards projects and companies that support a low-carbon future.

thehill.com

Senator Whitehouse puts climate change on budget committee’s agenda

For more than a decade, Senator Sheldon Whitehouse gave daily warnings about the mounting threat of climate change. Now he has a powerful new perch.

GOP accuses Wall Street firms of climate collusion

Trump’s EPA chief moves to dismantle climate protections

Trump administration halts $1.7 billion in EPA grants for pollution-hit communities

Oil and gas leases in Arctic refuge back on track after court ruling

Uranium exploration near Alaska Native village sparks public health concerns

Shein’s falling profits reveal cracks in ultra-fast fashion business model

Climate-fueled disasters surged in 2024 as FEMA’s role faces political threats

U.S. infrastructure sees small gains from Biden-era funding but major gaps remain

An open letter from EPA staff to the American public

“We cannot stand by and allow this to happen. We need to hold this administration accountable.”

New evidence links heavy metal pollution with wildfire retardants

“The chemical black box” that blankets wildfire-impacted areas is increasingly under scrutiny.

Op-ed: Why funding for the environmental justice movement must be anti-racist

We must prioritize minority-serving institutions, BIPOC-led organizations and researchers to lead environmental justice efforts.

Biden finalizes long-awaited hydrogen tax credits ahead of Trump presidency

Responses to the new rules have been mixed, and environmental advocates worry that Trump could undermine them.

Op-ed: Toxic prisons teach us that environmental justice needs abolition

Prisons, jails and detention centers are placed in locations where environmental hazards such as toxic landfills, floods and extreme heat are the norm.

LISTEN: Reflections on the first five years of the Agents of Change program

The leadership team talks about what they’ve learned — and what lies ahead.