A self-proclaimed “shareholder advocacy” firm is facing criminal contempt of Congress proceedings for refusing to provide documents and communications relating to potential antitrust violations, House Judiciary Committee Chairman Jim Jordan (R-Ohio) announced Thursday.
In a social media post, Chairman Jordan reported that “As You Sow,” a shareholder advisory organization dedicated to advancing the leftist Environmental, Social and Governance (ESG) agenda, has been informed that charges are imminent:
“We subpoenaed As You Sow, a member of the woke ESG cartel. So far, their productions have been insufficient. Should As You Sow fail to promptly and substantially improve compliance with the subpoena, it is now on notice that the Committee may take further action, including criminal contempt of Congress proceedings.”
The subpoena requires As You Sow – a signatory to the Climate Action 100+ coalition – to provide documents and communications regarding potential violations of existing antitrust laws through collusive agreements to impose and adopt left-wing environmental, social, and governance (ESG) goals.
Jordan also posted a link to the “final-warning” letter he sent to As You Sow, which explains that the organization has repeatedly refused to turn over information subpoenaed back on November 1.
The Committee is seeking documents and communications relevant to its investigation of how agreements and goals to destroy companies that produce traditional energy, or fail to pursue net-zero carbon emissions, may be in restraint of trade.
In particular, the subpoena requires As You Sow to produce documents and communications referring or relating to:
- How As You Sow’s decarbonization and net zero emissions goals, agreements, and commitments affect output, price, or the choices available to consumers and investors.
- Any agreement among As You Sow, asset managers, proxy advisors, and alliances or initiatives such as Climate Action 100+ to advance decarbonization and net zero emissions goals.
- How As You Sow and other stockholder engagement service providers can or should advance decarbonization and net zero emissions goals.
- How proxy advisors can or should advance decarbonization and net zero emissions goals.
- How As You Sow developed its decarbonization and net zero emissions targets and commitments.
According to the As You Sow website, the shareholder advisor does, indeed, engage in “coalition building” to advance its ESG ideology by influencing companies and controlling markets:
- “As You Sow changes corporations for good.”
- “Founded in 1992, we harness shareholder power to create lasting change and align investments with values.”
- “Our mission is to promote environmental and social corporate responsibility through shareholder advocacy, coalition building, and innovative legal strategies.”
- “Our vision is a safe, just, and sustainable world in which protecting the environment and human rights is central to corporate decision making.”
- “As shareholder advocates, we directly engage corporate CEOs, senior management, and institutional investors to change corporations from the inside out.”
- “We harness shareholder power to create lasting change and align investments with values. Our programs address gender inequalities, workplace equity, environmental health, and more.”
One way ESG-activist financial institutions “align investments with values” is by boycotting and denying capital to companies in the coal and natural gas sector, in order to deny consumers the ability to access and afford sources of traditional energy.