"Consumers’ Research, bolstered by millions in undisclosed donations, targets investment firms and their evaluation of climate risks".
"Bankrolled by mysterious donors, a little-known group named Consumers’ Research has emerged as a key player in the conservative crusade to prevent Wall Street from factoring climate change into its investment decisions.
On Dec. 1, the group joined 13 state attorneys general in calling for a federal regulatory agency to investigate Vanguard, one of the world’s three biggest financial asset managers. Consumers’ Research accused Vanguard of “meddling with [the] energy industry to achieve progressive political goals at the expense of market efficiency.”
Within days, Vanguard announced it was quitting a coalition called the Net Zero Asset Managers Alliance and shelved its own modest pledges to cut the amount of greenhouse gas emissions linked to companies in which it invests. Leaders of Consumers’ Research were surprised — and elated."
Steven Mufson reports for the Washington Post January 30, 2023.
"Politicians Want to Keep Money Out of E.S.G. Funds. Could It Backfire?" (New York Times)
"Republicans Vow To Probe US Banks And Asset Managers’ ‘ESG Agenda’ In Congress" (Financial Times)
"BlackRock Steps Up Spending On Us Lobbying In Face Of Anti-ESG Attacks" (Financial Times)