Jim Jordan Subpoenas Vanguard and Arjuna Capital in ‘Woke’ Investing ESG Probe

The Republican-led House Judiciary Committee on Monday, Dec. 11, issued subpoenas to Vanguard and Arjuna Capital, related to the committee's investigation into whether the companies engaged in environmental, social, and governance (ESG) investing coalitions in ways that violate antitrust laws.

In separate letters to the two investment firms, House Judiciary Committee Chairman Jim Jordan (R-Ohio) expressed frustration that the companies were allegedly dragging their feet in relation to earlier requests for records on how each of the companies advanced their ESG policies.

"Corporations are collectively adopting and imposing progressive environmental, social, and governance (ESG)-related goals, and The Vanguard Group Inc. (Vanguard) appears to have entered into collusive agreements to 'decarbonize' its assets under management and reduce emissions to net zero in ways that may violate U.S. antitrust law," Mr. Jordan wrote in a letter to Vanguard, with a similar letter addressed to Arjuna Capital making an identical claim.

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