House Judiciary Committee probes Glasgow Financial Alliance for Net Zero (2024)

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June 11, 2024

The House Judiciary Committee late last week interviewed at least two leaders of the Glasgow Financial Alliance for Net Zero (GFANZ), a global network of financial firms supporting ESG. The committee has also requested interviews with several other GFANZ officials and affiliated individuals, including billionaire and former New York City Mayor Michael Bloomberg. According to Reuters:

“

A U.S. lawmakers' committee conducted interviews with two Glasgow Financial Alliance for Net Zero (GFANZ) leaders, former central bank governor Mark Carney and former U.S. Securities and Exchange Commission Chair Mary Schapiro, in an escalation of their push against global coalitions to tackle climate change. The House of Representatives' judiciary committee, which is controlled by Republicans led by its chairman Jim Jordan, set up the interviews earlier this year out of concern that GFANZ "appears to facilitate collusion that may violate U.S. antitrust law," according to letters to GFANZ staff reviewed by Reuters and people familiar with the matter. … The judiciary committee also asked to interview Michael Bloomberg, the majority owner of the eponymous financial data and news provider who helps fund GFANZ's secretariat, as well as GFANZ officials Patricia Hudson and Sara Simonds, according to the letters reviewed by Reuters. They have not yet made an appearance and Reuters could not learn if they plan to do so.

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