SPOTLIGHT

“Climate cartel” has become a popular anti-climate action buzzword both on social media and in the halls of power. A new Fortune op-ed refutes these false accusations, stating climate alliances are permissible under U.S. antitrust law as they focus on collaborative activities, information sharing, and voluntary standard setting. Authors Cynthia Hanawalt and Denise Hearn, who recently published a report on the subject, point out the hypocrisy of Republican attacks funded by the industry that incubates the real cartels. This Fortune piece adds to a growing chorus of experts who say there is no legal antitrust case. 

We don’t expect this issue to go away anytime soon, so if you are a legal expert—or know a good one—and want to talk to the media, please reach out.

NEWS

• Above the Law: Biglaw Firms Ranked On How Much Their Work Contributes To Climate Change
• Arkansas Democrat Gazette: Arkansas attorney general announces pick for ESG oversight committee 
• Axios: Texas homeowners insurance premiums rising | 100,000 Citizens Property policies could shift to Tampa-based insurer 
• Bloomberg: Corporate ESG Claims to Soon Face Audits to Address Greenwashing Fears 
• Bloomberg Law: Verizon Faces Suit Over Toxic Lead Cable ESG Risks, Stock Drop 
• Bloomberg Tax: EU Works on Its Own ESG Audit Rules as Global Standard Published 
• Corporate Knights: The incredible shrinking climate ambitions of the world’s largest asset managers 
• Edie: InfluenceMap: World’s largest asset managers ‘far off track’ in net-zero transition 
• EXPOSEDbyCMD: Fossil Fuel Consultant and Leonard Leo Lieutenant Lobby ALEC Lawmakers on “Stopping ESG”
• Financial News: Anti-ESG funds are struggling to win over investors despite political backlash 
• Forbes: European Union Approves Climate/ ESG Reporting Standards 
• Greenbiz: Get ready for more ESG lawsuits
• Harvard Law School Forum on Corporate Governance: ​ESG Mid-Year Review: Expectations for the Remainder of 2023 | Congressional Republicans Continue Attack on 2022 ESG Rule  
• Just the News: Liberal senators slammed for asking Justice Department to prosecute fossil fuel industry
• The Lever: Campaign Cash For Climate Denial 
• The New York Times: Larry Fink’s Bet on Saudi Oil Money Is Also His Latest E.S.G. Woe
• Politico: A new regulatory rift
• Quartz: How ESG will change your job  
• Reuters: UK investors pull 1 billion pounds from ESG funds since May | Standards body proposes rules for auditing company climate disclosures
• Triangle Business Journal: Owning a beach home in NC could get more costly as insurers seek 50% rate hike 
• Triple Pundit: Powerful Ways Everyday People Can Counter ‘Anti-ESG’ Campaigns That Target Sustainable Investing 

OPINION

• ESG Clarity: Two years after ‘iconic’ Exxon moment has engagement delivered results?
• Fortune: Of pots and kettles: Big Oil and the anti-ESG movement are accusing banks of running ‘climate cartels’
• MSNBC: While the world burns, fossil fuel CEOs are lining their pockets 

OPPOSITION

• 1819 News: ‘It’s trickery and fraud, not free market capitalism’ — Mises Institute economist calls out Politico article touting Democrats as free market allies for pro-ESG stance 
• Newsbusters: OOPS! Bloomberg News Celebrates ESG, Omits Parent Company’s Obsession
• RealClearMarkets: Larry Fink Bet on Saudi Oil Money Is Also His Latest ESG Woe
• Washington Examiner: The opaque revolving door behind the SEC’s ESG policymaking 
• Washington Times: Cracks emerge among GOP support for combating ESG investing
• Will Cain Podcast: NBA player launches anti-woke sports apparel

SOCIAL

DATES

• August 23-25: Global Research Alliance on Sustainable Finance and Investment 2023 Annual Conference. Register here. 
• August 24-26: The Federal Reserve Bank of Kansas City 2023 Economic Policy Symposium “Structural Shifts in the Global Economy.” 
• September 17-24: Climate Group Climate Week NYC. View list of events here. 
• September 20: UN Climate Ambition Summit.