The Epoch Times’ Kevin Stocklin discusses what the representatives could be looking for, and what trouble could come for the industry as a result.
The ESG (Environmental, Social and Governance) industry is facing pushback as GOP representatives and attorneys general begin gathering information for what could be an antitrust lawsuit against a UN climate club for insurance companies. This has caused many members to head for the exits
Rep. James Comer (R-Ky.), chairman of the House Oversight Committee noted in a statement, “The U.N.-convened Net-Zero Insurance Alliance (NZIA) requires insurance company members to commit to transitioning their portfolios to net-zero greenhouse gas (GHG) emissions by 2050.”
The letter continues, “Recent reports indicate insurance companies with ‘significant U.S. business and exposure’ are rapidly dropping out of [this] U.N.-supported net-zero climate organization due to concerns with the environmental, social, and governance (ESG) agenda and antitrust law compliance.
“Americans deserve to know whether the U.S. Mission to the U.N. is jeopardizing their nation’s sovereignty by advancing radical climate goals of the U.N. and other countries with their tax dollars.”
There are a number of similar UN net-zero clubs that could also be subject to antitrust actions, including the Net Zero Asset Managers Initiative (NZAM), the Net Zero Banking Alliance (NZBA) and the Net Zero Asset Owners Alliance (NZAOA).
In addition, attorney generals across 23 states noted in a statement to NZIA that they were heavily “concerned with the legality of your commitments to collaborate with other insurers and asset owners in order to advance an activist climate agenda.”
How much trouble does this spell for the ESG industry? Joining us now to discuss this matter further is the reporter who wrote the piece for The Epoch Times, Kevin Stocklin. He brings a great deal of expertise behind the ESG industry, which he has applied into a new documentary, The Shadow State, which is currently available to watch on Epoch TV. (Screener available upon request.)
Q&A:
- Why is the GOP concerned about climate clubs and insurance companies?
- Why do House Reps and State AGs think there have been antitrust violations?
- What do the UN climate clubs want insurance company members to do and how could this affect companies and individuals who need insurance in the U.S.?
- Insurers have come under fire from pro-ESG organizations as well, demanding that they cut off insurance to the fossil fuel industry. These include organizations like Greenpeace and the Rainforest Action Network. Will their pressure campaign succeed?
- Some insurance companies say ESG is simply good risk management at a time of record payouts for natural disasters like hurricanes and wildfires. But are natural disasters really escalating due to climate change? What does the data say?
- Where do you see this potential battle going over the next few months? Could this have an effect on the ESG industry as a whole?
- You recently produced a new documentary called The Shadow State, which discusses the impact of its market. Tell us more about it and what it’s done for business over the past few years.
- Where can people view The Shadow State? We understand there’s also a DVD available?
The Shadow State is available right now on Epoch TV. Those interested in purchasing the DVD can do so here.
- Where can we find your recent article about this subject on The Epoch Times, as well as other works you’ve written?
You can find my profile page here, with all my recently written articles, including a piece on what you’re not being told about the Electric Vehicle revolution.
About Kevin Stocklin:
Kevin Stocklin is a writer, film producer, and former investment banker. He wrote and produced We All Fall Down: The American Mortgage Crisis, a 2008 documentary on the collapse of the U.S. mortgage finance system.
CONTACT: Jerry McGlothlin at: geraldmcg@outlook.com or 919-437-0001.
