US House Judiciary chair subpoenas Vanguard over ESG policies

Jim Jordan

Elliot Gulliver-Needham
clock • 1 min read

Jim Jordan, the Republican chair of the US House Judiciary Committee, has subpoenaed Vanguard and asset manager Arjuna Capital over the use of ESG in their investing process.

The committee's investigation centres around the "sufficiency of current antitrust laws to address collusive agreements to promote and adopt left-wing ESG goals". "Vanguard appears to have entered into collusive agreements to ‘decarbonise' its assets under management and reduce emissions to net zero in ways that may violate US antitrust law," Jordan said in the subpoena. "To advance our oversight and inform potential legislation related to collusive ESG policies, the committee must understand how and to what extent Vanguard may have colluded to promote ESG-related goals." Moody's d...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on ESG

Global Steering's Ronald Cohen: We must wake up to a new revolution in investment
ESG

Global Steering's Ronald Cohen: We must wake up to a new revolution in investment

'The impact revolution'

Ronald Cohen
clock 19 July 2024 • 4 min read
Quilter Investors' Nikki Williamson: How open data sources can help with the future of ESG ratings
ESG

Quilter Investors' Nikki Williamson: How open data sources can help with the future of ESG ratings

'More needs to be done'

Nikki Williamson
clock 18 July 2024 • 3 min read
Principal Asset Management launches Article 9 food and biodiversity fund
ESG

Principal Asset Management launches Article 9 food and biodiversity fund

Companies targeting UN SDGs

clock 10 July 2024 • 1 min read
Trustpilot