US House Judiciary chair subpoenas Vanguard over ESG policies

Jim Jordan

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...