EXCLUSIVE — A group of 22 state attorneys general sent a letter to a prominent group of financial service providers, accusing them of manipulating markets to service their 'activist climate agenda.'
EXCLUSIVE — A group of 22 state attorneys general sent a letter to a prominent group of financial service providers, accusing them of manipulating markets to service their"activist climate agenda."
The letter notes that all of the four largest accounting firms, which make up about 75% of the market share in that industry, are NZFSPA members and founders, which may be a violation of federal antitrust laws that"broadly prohibit business competitors from engaging in concerted action in restraint of trade or commerce."
Members of the alliance are required to commit to several industrywide standards the attorneys general say are evidence of antitrust collusion. Signatories also all agree to work with"climate-activist pressure groups" such as Net Zero Asset Owner Alliance, Paris Aligned Investment Initiative, Net Zero Banking Alliance, and the Net Zero Asset Managers Initiative.
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