Exclusive: US House panel finds Wall St 'colluded' to curb emissions

[groundloop]

Source: Reuters

A U.S. congressional committee will accuse the biggest Wall Street firms on Tuesday, in a report seen by Reuters ahead of its publication, of colluding with advocacy groups to force companies to shrink their greenhouse gas emissions.

[snip]

Several Republican-controlled states have been already 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.

This is despite the world failing to live up to an intergovernmental agreement reached in Paris in 2015 to keep global warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit) so it can avoid the most catastrophic effects of climate change.

In the Judiciary Committee's report, the committee staff accuse President Joe Biden's administration of failing to "meaningfully investigate the climate cartel's collusion, let alone bring enforcement actions against its apparent violations of longstanding U.S. antitrust law."

Read more: https://www.reuters.com/sustainability/us-house-committee-report-finds-wall-street-colluded-curb-emissions-2024-06-11/

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Read the entire article, there's far too much to get into 4 short paragraphs.

Gym Jordan is a total fucking ass.

[Diraven]

1. And this is illegal why?

Companies "colluding" to do a good thing is now bad. Next they'll be accusing companies of conspiring to reduce prices or help people.

[Shipwack]

2. Not so far fetched if it is a publicly held company...

If a company starts charging less, then I could see conservative (and even not so conservative) shareholders complain that the company is not maximizing share holder value, and the board gets sued...

[hedda_foil]

3. The idea is to scare these companies and others from daring to back climate reality.

[Bobstandard]

4. Fodder for the coming prosecutions

The Trumpistss will follow through on their promises to detain, prosecute, convict, and incarcerate their ‘enemies’ al a the 2025 project. These are the kind of transgressions that they’ll use as basis. Never mind that they’re not illegal now. They’ll be deemed close enough.

Bannon just told former FBI directors to flee the country. If Trump is elected they’ll have to. And many of us won’t be safe in our own homes. It’s that bad.

[groundloop]

5. All too true. I'm considering our options should 45* somehow step foot in the White House again.

[eppur_se_muova]

6. How DARE these sneaky shitweasels try to ... umm, save the planet ? nt

[muriel_volestrangler]

7. "Gym Jordan is a total fucking ass" - this cannot be said enough. Paris Climate Accords, ratified by the USA?

Not, according to the total fucking ass, enough for investors to take a long term view on the sustainability of a business model. They must, according to the total fucking ass, screw themselves (in the ass?) by putting immediate profit before the ability to keep the capitalist world functioning over decades.

It's like a congressman trying to legislate compulsory smoking, because he owns tobacco shares. The total fucking ass.