ACTION ALERT:
Protect Climate Action and Shareholder Rights
As You Sow / ActionNetwork

(February 6, 2024) — The U.S. House Judiciary Committee is weaponizing governmental power at a critical time in the climate crisis. It’s trying to stop shareholder representative As You Sow and 13 other organizations from securing climate action from corporations by alleging “antitrust” violations.

Why? Their subpoena claims that asking a company to reduce carbon pollution infringes on the freedom of all Americans. It would be funny if it weren’t a deadly serious example of the oil and gas industry’s grip on our government, economy, and fundamental democratic freedoms.

Climate-induced superstorms and wildfires are wiping out homes and making insurance unaffordable. Extreme heat, floods, and droughts are reducing harvests of wheat, sugar, coffee, cacao, and cotton, leading to increased prices for all Americans. In 2023 the U.S. had 28 climate-related disasters costing $92.9 billion. Two critical drivers of inflation are climate-related catastrophic weather events and fluctuating oil and gas prices. Both can be reduced by effective climate action.

Over the past decade, As You Sow has successfully engaged companies and investors in securing meaningful climate action. In response, the House Committee has opened this investigation to STOP corporate climate action, to STOP progress toward net zero emissions, and to STOP progress toward a sustainable economy.

The House Judiciary Committee is actively protecting the fossil fuel industry at the expense of all Americans. We cannot allow politicians to shut down climate progress. Will you tell them this cannot stand?

THE LETTER
Dear Senator and Representatives,

Corporations’ impact on the environment is outsized and concerning to Americans and investors alike. Many firms and nonprofit organizations work to hold corporations accountable and help them transition to meet a changing climate and economy.

The House Judiciary Committee is using its time and taxpayer dollars to open an antitrust investigation targeting shareholder representative As You Sow and 13 other organizations working to secure corporate action on climate change. This is an attack on all Americans’ freedom of choice, freedom to invest, and freedom to assess and address risk.

Investors have a legal right to engage and interact with other shareholders and the companies in which they hold a financial stake. They certainly also have the right to point out the grave economic risks of climate change.

Climate-induced superstorms and wildfires are wiping out homes and making insurance unaffordable. Extreme heat, floods, and droughts are reducing harvests of wheat, sugar, coffee, cacao, and cotton, leading to increased prices for all Americans. In 2023 the U.S. had 28 climate-related disasters costing $92.9 billion.

Climate change already impacts all Americans and our economy. I do not support this investigation and hope you will join me in calling out this waste of time and taxpayer dollars.

I also urge you to join the Sustainable Investment Caucus that is standing up for our freedom to invest responsibly.

Co-sponsored by: Green America, Stop The Money Pipeline, Americans for Financial Reform, American Sustainable Business Network.