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REPORT: Left-Wing “Climate Cartel” Destabilizes Economy

Posted on Monday, September 16, 2024
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by Ben Solis
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60 Comments
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A globalist cabal of shadowy left-wing lobbying groups has gained outsized influence over major American corporations, in part by using pensioners’ retirement dollars.

Earlier this summer, the House Judiciary Committee released an interim report detailing “evidence that a ‘climate cartel’ of left-wing environmental activists and major financial institutions has colluded to force American companies to ‘decarbonize’ and reach ‘net zero.’” The members of this cartel have accomplished this goal “by weaponizing ever-escalating pressure tactics that start with negotiations with corporate management, continue to filing and ‘flagging’ stockholder proxy resolutions, and culminate with taking out the boards of directors at ‘recalcitrant companies.’”

As the report points out, the actions of this “climate cartel” are a violation of antitrust laws, raising costs and limiting choices for American consumers. The cartel’s goals also threaten key sectors like fossil fuels, aviation, and agriculture by pressuring these industries to reduce their carbon output. Along with creating higher prices for American consumers, this forced decarbonization will make the U.S. more reliant on imports from abroad, primarily from Communist China.

The key members of the cartel as the House committee describes it are proxy advisory firms such as Institutional Shareholder Services and Glass Lewis, activist asset managers, and left-wing activist groups like the Net Zero Asset Managers Initiative, Glasgow Financial Alliance for Net Zero, and Climate Action 100+.

The report specifically singles out Climate Action 100+ as a key player in organizing the climate cartel. Founded in 2017, the group claims to represent more than 700 investors managing combined assets worth close to $68 trillion.

Those investors include some of the most prominent public sector unions in the country, including the New York State Common Retirement Fund, the California State Teachers Retirement System (CalSTRS) and the California Public Employees Retirement System (CalPERS), which played a major role in starting Climate Action 100+. CalPERS alone manages some $485 billion in assets – all employee retirement dollars – which it is now using to advance left-wing climate goals that are detrimental to both retirees’ portfolios and the American economy more broadly.

One striking demonstration of the hostile tactics employed by Climate Action 100+ cited in the report was the intense pressure exerted on ExxonMobil, which included demands for extreme cuts in emissions, a coordinated vote against the directors who resisted, and the installation of board members who were aligned with the climate cartel’s political agenda. According to the report, Climate Action 100+ managed to replace three ExxonMobil board members with climate activists, backed by large pension funds, including CalPERS.

ExxonMobil and fellow fossil fuels producer Chevron were also specifically targeted by Climate Action 100+ member Arjuna, a private capital management fund with $372 billion in assets. In 2021, Arjuna targeted Chevron with a shareholder proposal to turn it into a “public benefit corporation,” which would have subjugated it to the climate cartel’s dictates. As the report points out, Arjuna routinely commits what appear to be violations of corporate law by putting a liberal political agenda ahead of maximizing returns for its investors.

Moreover, the committee’s report concludes that the members of the climate cartel, including Climate Action 100+, “are colluding toward a common goal: the ‘decarbonization’ of American industry, which necessarily reduces output and increases prices for American consumers.” By forcing companies to cut production of goods and services that Americans rely on for daily life, the cartel has “declared war on the American way of life” by “raising prices and reducing output for American consumers.”

While the Biden-Harris administration has thus far refused to follow up on the alarming claims brought forth by the House Judiciary Committee, the public scrutiny does appear to be taking its toll on Climate Action 100+. Between the time that the committee launched its investigation in 2022 and published its interim report, BlackRock, State Street, and J.P. Morgan Asset Management – three of the world’s five largest asset managers – withdrew from the group, taking their $14 trillion in assets with them. Dozens of other companies have followed suit.

The Judiciary Committee has pledged to continue its investigation in the months and years ahead – an effort that could receive a big boost if former President Donald Trump wins back the White House this November. Trump’s vice presidential pick, Ohio Senator JD Vance, has repeatedly criticized corporate executives for their commitments to woke ideology, including so-called “decarbonization” and “net zero” goals. As vice president, Vance would be in a prime position to force the members of the climate cartel to face accountability.

Ben Solis is the pen name of an international affairs journalist, historian, and researcher.

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Rodney Ernst
Rodney Ernst
2 months ago

There is no such thing as global warming. God created the world and that includes the weather. This is all about contol.

PaulE
PaulE
2 months ago

All the so-called cartel groups mentioned are merely front groups established by the WEF-types, which are comprised of the same international set of billionaires and global leaders most Americans should have become much more aware of decades ago, as a means to steer the economic decline of Western civilization to its desired outcome. That being universal poverty and persistent misery for all by those running the show.

Always look at who is financially establishing and backing these front groups to understand who is really setting the agenda and who stands to benefit the most, both economically and politically, from forcing the desired outcomes they seek. Yes, it takes a bit of time and effort to do all this, but the alternative of remaining clueless and thus completely unprepared for what is coming down the road will be far more painful. Sticking one’s head in the sand and hoping this all goes magically away is NOT a viable option.

Allen
Allen
2 months ago

Immigration is the worst environmental enemy.

Melinda
Melinda
2 months ago

It is my optimistic hope that Tump and Vance are elected, although a doubt creeps in because of Democrat manipulation. Vance will be able to carry on long after Trump is gone (unless they try to assassinate him, too).

Leslie
Leslie
2 months ago

The original “hockey stick” guy, AND Al Gore should be charged for false advertising. The hockey stick guy left out the entire decade of the colder 1970s in his calcs so his numbers would look good. Gore knew, yet these two started the world’s largest scam-ever! Back when they were forced to change to name from “global warming” (since it wasn’t getting much warmer) to climate change, that should have woken a LOT of people up! But, the sheeple kept buying in. I have a degree in Environmental Studies from UCSB of all places, and I know better! The “science” that is NOT being manipulated is there, just getting shut down by the politicians (and the attorneys) who have co-opted the environmental movement. SHAME ON THEM! Now we have children who are constantly worried about the world they live-CONGRATS there people.

Joe
Joe
2 months ago

ESG communists at work. The Judiciary Committee can pledge to do all the investigating they want, but ACTION is needed, and we won’t see any if Comrade Kumbaya steals the election. Instead, she and the liberals will complete the destruction of our country. Even if Trump wins, he’ll face the same resistance against his agenda that he did before, In the meantime, PaulE is correct in that it’s up to us to stay alert and prepare for when the SHTF.

fred smith
fred smith
2 months ago

This is all just another technique used by the left to shakedown and fleece American corporations and taxpayers of millions of dollars, just to fill their pockets and to use to finance future elections to keep them in power forever! The Demonicrat Party is more evil than ever before!

Thinking
Thinking
2 months ago

He who controls the money has the power. All these so called climate cartels have trillions of dollars to exert their will on companies. Not for the good of the climate, or the people’s health, no, power to the cartels. We had a second attempt on Trump’s life. All because of the rhetoric the ultra left calls out via the mouths of the democrats. H called Trump supporters a basket of deplorables, ole Joe called them domestic terrorists, fascists etc etc. Trump self was called a Hitler, while they rule to control every aspect of our lives. What to drive, where to travel, where to live and most important what medicines are allowed and what drs can prescribe or procedures to perform. Kameltoe is setting this program forth. She doesn’t know anything else. She has not inserted any plans or programs she has or had the past four years. They governed by throwing money at it but not demanding results. The billions of dollars to the Ukraine where did it go? No accountability. Build back better where did the money go. Millions of dollars for loading stations and 8 were built we are a few short of the 500K ole Joe said. All the invaders have ruined large and small cities. Citizens living there are leaving out of fear for their own lives or are homeless because they can’t take the stress any longer of the harassments by these invaders. Kameltoe is losing the election. Assassination attempts on Trump will continue till one succeeds. That this man stays in the race, because that is what the dems want, says a lot about his character. We judge him by his character not the color of his skin. What does ole Joe say we need more money for secret service agents. Oh who shall we blame then. Ole Joe because he sent all the money to the Ukraine, that way more people can get killed, and Kameltoe can get rid of her opponent. She doesn’t know what she is in for if JD Vance should become the presidential candidate. He’d wipe the floor with her. The rhetoric has to stop and let’s start with MSM. The after effect of the ABC debate were evident yesterday in West Palm Beach in Florida. And it won’t stop there.

Philip Seth Hammersley
Philip Seth Hammersley
2 months ago

Bill Gates and his buddies push “climate change” to decrease the population; especially of those who aren’t to their liking. They are followers of Margaret Sanger who wanted to get rid of “human weeds.” That’s also why they give China, with its “one-child” policy, a free hand on all the climate restrictions. [Although I understand the reds have loosened that lately.] It’s all about CONTROL by the “elites.”

Stephen Russell
Stephen Russell
2 months ago

None drive EVs

paul
paul
2 months ago

no carbon all life on earth dies

Robert Zuccaro
Robert Zuccaro
2 months ago

Like whale oil, fossil fuels will eventually be replaced by more efficient, inexpensive sources.But to these ppl, all energy problems are nails and green energy is the hammer; never the “all of the above” solution. There’s another saying called “follow the money” and I’ve no doubt these green energy advocates are being paid off. Ask the Big Guy.

George M
George M
2 months ago

Look no further than the CCP & WEF for the money behind this. They have been buying up the building blocks for production of “green energy improvements” for years and believe that they can hold the US hostage. It’s time for our government to shift their focus (away from this imaginary green energy – which is really a no energy focus) to things that work for the American people; more and better insulation, hybrids vehicles, domestic production of oil and gas, an honest effort to upgrade the power grid and add baseload nuclear.
Please understand that without cheap energy the price of everything goes up and economic growth comes down. The connection between cheap energy and GDP growth is very clear! Democrats put forward no/slow growth economy, with much higher energy costs which will clearly be very negative for the middle class in the developed world (especially the US)!
Has anyone else noticed how Big Tech is building data centers in areas with existing nuclear power and “greening their footprint” by providing offsetting solar and windmill? Obviously this is a sham as that “green energy” is off a good portion of the time and we all know that consumers will be seeing the blackouts as Data Centers “Must run” 24/7! We need to stop them now and call Bull S____ on these expensive green energy projects which will likely increase our energy costs on the order of 10 fold over the next few years!

uncleferd
uncleferd
2 months ago

The “Democrats” know it’s far easier to tear things down with cheap words, that using one’s own ingenuity and planning to build something of value and beneficial use to all.
Their words ring hollow when, for instance,” complaining about pharmaceutical companies, whose breakthrough medications keep sick people out of hospitals, even though the FDA has ruthlessly tightened the screws on regulations and, therefore, forced their pricing to go sky-high.
“Democrats” who say they “need” to control, are meerly out to control, and don’t see the purpose of adding value to our continued effort to improve lives.
They are the ruthless controlaholics, like Harris, that don’t account for how grand it can be to allow the kind of progress and freedom that allows happier lives.

Kyle Buy you some guns,and learn how to shoot
Kyle Buy you some guns,and learn how to shoot
2 months ago

Why does corparations keep dealing with these folks ??? Tellum to go to Hell and move on. Kyle L. P.S. These Corps. gotta take a stand.

Robert
Robert
2 months ago

The renewable energy mandate which requires 10% ethanol in our gasoline results in what I experienced about a 20% loss in fuel economy. In an article on Road and Track a person claims a 15.7 loss it’s worse than that. On ethanol-free websites, pure-gas.org and buyrealgas.com people would claim the same low fuel economy I found but those blogs have been taken down. Now Kamala claimed she would up the amount of ethanol in or gas. The EPA claims only 3% loss that’s BS

uncleferd
uncleferd
2 months ago

This is an excellent article that shows the extent to which many “Democrats” will go for wealth, power and influence.
Their need to control, at the expense of homes and busineses that need power at reasonable cost, creates damage to our economy, our job market, and our ecosystems. Meddling with public utilities and their assets is the domain of undereducated egomaniacs.

EMS7
EMS7
2 months ago

Stop the madness!!

sergio Pastor
sergio Pastor
2 months ago

The Democratic party is the worst enemy….because there are dummies and I am a Latino democrat amigo indoctrination for “caca” minds….BURROS

Pat R
Pat R
2 months ago

So are these Climate Change dictators going after China? China is ramping up their use of fossil fuels without any restrictive measures. Seems this Climate Cartel is going after countries with a conscience (meaning vulnerable because they’ve been pressured to believe the climate hoax).

JPop
JPop
2 months ago

The Federation of Angry Globalist need to but out of our lives.

anna hubert
anna hubert
2 months ago

Clean energy racketeers are running a clean racket. Al is up front, clean as the energy they push for , nothin askew, nothing to prosecute, no Alcatraz for them. Is that not clever not even Elliot Ness could touch them. They are doing it for the betterment of the mankind. Philanthropy oozes out of them.

BACKWOODS
BACKWOODS
2 months ago

I don’t know about anyone else but this HOAX has been gone on so long that the earth has already been destroyed.

John A Bird
John A Bird
2 months ago

Corruption runs deep within this nation, including those who tell us they can combat climate change with additional tax dollars. This nation is a Constitutional Republic if we the people are willing to fight for our freedoms. Otherwise we will become nothing more than a democracy whereby we will be told how to live our lives. So it’s entirely up to us, we must kill the cancer now afflicting this nation or forever live as slaves.

papaYEC
papaYEC
2 months ago

Also destabilizing ecology.
Leftists are destroyers and murderers, and the US Democratic Party are the worst and most destructive of leftusts.
IMO

FedUp
FedUp
2 months ago

So just to make sure I got this right. The tactics used against the Corporate Management are a blatant violation of antitrust laws. But nobody gets arrested, charged, thrown in jail.
Ohhhh, wait. This is the Biden/Harris regime and Biden/Harris are the puppets of the cabal using these illegal tactics. So of course the Biden DOJ will not bring charges.

Glen
Glen
2 months ago

“Global Warming” / “Climate Change” = FRAUD. Earth has had “Climate Change” for 6,000 Years IF you believe GODS WORD or Millions of years if you believe that FRAUD.
I’ll take the warm over the ICE AGE Thank you.

Chuck
Chuck
2 months ago

Oh say, I firmly believe in global warming: it happens every morning! This struggle will continue until enough Americans get educated by AMAC, The John Birch Society, Ron Paul, et.al and begin to vote constitutionally sound people into office. it’s rough to convince socialistic groomed American voters not to vote for those promising them largesse from D. C.

JAMES CARLYLE
JAMES CARLYLE
2 months ago

The Climate Hoax revealed. What a disaster!

Myrna
Myrna
2 months ago

I hope Vance does become Vice President. Years of spending on a fraud need to be reversed.

Phillip Nagle
Phillip Nagle
2 months ago

It should be noted that these “climate activists” don’t seem to mind China spewing filth into the atmosphere nor China and other Asian countries dumping their garbage into the Pacific Ocean where it often ends up on American shores. The result of stringent controls put on American companies is that manufacturing jobs are moving to China and other Asian nations without those regulations but just as much if not more pollution is being pumped into the air and the Pacific Ocean is turning into a garbage dump.

Charlotte Mahin
Charlotte Mahin
2 months ago

Just how deep does our “deep state” Marxist regime go? They are the root evil causing so much of our horrible economic and crime-ridden culture. How did we become so complacent and let these evil people into our core? We must do a 180 and somehow rake back our country. I pray each day that Trump will prevail but it is also going to take putting reputable conservatives into Congress. We can only do that with FAIR elections which is not going to be easy. The Marxists among us are already registering illegals to vote!

hgk
hgk
2 months ago

Please Jesus help me and all of us (especially atheists, other secularists, and agnostics) find You and obey Your Teachings to better deserve Your Grace for all of us.????????????????????????????????????

Dasraa
Dasraa
2 months ago

We need to raise our co2 levels from about 450ppm to near 1200ppm

SCbubba
SCbubba
2 months ago

To all the “climate change” alarmists and “Climate Cartel” supporters out there: I collectively contrast my pre-liberal-indoctrination schooling, professional engineering career, and life experiences with any assertions made under “settled science”, or by touted “experts”, or through declared “consensus”, or by a dubious “study”, or by a biased “poll”. As a result, I do not believe any declarations of “climate change”, or that mankind’s mere existence is causing “climate peril”. Oh, the horror!

Over the past 60 years, I have either heard about (ad nauseam), or experienced, and (miraculously!) survived: Pre-EPA herbicide and pesticide exposure; sunlight, without sunscreen; “The Population Bomb”; acid rain; air and water pollution levels far greater than today (predating the Clean Air and Clean Water Acts); exhaust emissions from leaded gasoline and non-biodiesel fuel; exposure to lead-pigmented paint; ozone depletion; sunspot and solar flare activity; fluctuating ocean and Great Lakes levels; the Scarcity Mindset: “We’re running out of ______” (fill in the blank); numerous El Niño’s and La Nina’s; seasonal (named!) storms, each breathlessly proclaimed by Weather Channel wannabes as more apocalyptic than their predecessors; tornadoes; hurricanes; earthquakes; floods (including those wrought by “bomb cyclones”, “atmospheric rivers”, “zombie storms”, the “Pineapple Express”, and the latest, “derechos”); droughts and “flash droughts”; heat waves (including “global warming”); cold snaps (including “The Little Ice Age”, “global cooling”, and “polar vortexes”); changes in polar and glacial ice levels; species extinctions and amazing rediscoveries (including “the plight of the polar bears”); and the latest, NATURAL gas usage (furnaces, stoves, water heaters, clothes dryers, power plants)! Get the picture? I’m still here, so is the “planet”; and it shall remain, long after we are all dead and forgotten!

debbie
debbie
2 months ago

Here’s Another Fact When Thinking About The BS “Weather People, aka Meteorologists”, They’ve Used “Climate Change” to Predict Weather FOR THE INSURANCE CO’S. If They Keep Up the FEAR The Rates STAY…UP. Hence, Their “Friends” In Those Conglomerates Who OWN These Insurance Co’s Make Tons Of Money On Disgustingly HIGH Rates & Premiums Paid By Those of Us Who DO Own Our OWN Properties, But Remember, We’re NOT Supposed to OWN Anything But We’ll Be Happy. Ugh No, You Will Not. All Of This Is Connected. All Of It. Tech, Big Pharm, One World Government, NO Borders, All Of It. MONEY, MONEY & MORE Money. Always DO Follow the Money & Who Stands to Benefit the MOST. Same with What’s Going On Now With ALL of Them Working Together to Rid US Of The ONLY Chance We Have TO SAVE AMERICA & FOR THE ACTUAL AMERICANS OF IT!

Daniel Penny
biden and harris speaking in black and white
A row of supercomputers running simulations of quantum cryptography algorithms to test their efficiency and effectiveness
President Joe Biden, son Hunter Biden and sister Valerie Biden walk across the South Lawn of The White House on July 28, 2024 in Washington, DC. President Biden is returning from a weekend trip to Camp David. (Photo by Michael A. McCoy/Getty Images)

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