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‘You are evil,’ GOP lawmaker says to ‘climate-conscious’ investors – GOP House members allege a ‘climate cartel’ of investors & advocates are colluding to force companies to address ‘climate change’

https://subscriber.politicopro.com/article/eenews/2024/06/13/you-are-evil-gop-lawmaker-barks-at-climate-conscious-investors-00163050?source=email

CLIMATEWIRE | House Republicans are accusing at least 15 powerful financial firms and advocacy groups of colluding to force major companies to address climate change and reduce fossil fuel production — harming consumers in the process.

“You are evil,” Republican Rep. Harriet Hageman of Wyoming told group leaders Wednesday during a House Judiciary subcommittee hearing. “And what you are attempting to do — and the violations of law that you are engaged in — is absolutely stunning.”

Representatives from the accused organizations rejected the charge. They told lawmakers that investors are increasingly evaluating companies’ climate plans to assess their likely profitability amid the clean energy transition.

Many have joined industry coalitions, including one called Climate Action 100+, that help investors push companies to produce emissions data or set more ambitious decarbonization targets.

But monitoring climate risk — and pushing companies to address it — is not a plot to destroy carbon-intensive industries, organization leaders said. Instead, it reflects investors’ responsibility to protect money into the future.

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