Attorney General Brnovich Announces Action to Stop Coercive Investment Practices

PHOENIX -- Arizona Attorney General Mark Brnovich announced he is looking into ESG investing practices by major firms, including their membership in the investor-led initiative, Climate Action 100+. Many large investment companies, which manage trillions in assets, have recently publicized their focus on environmental, social, and governance factors. The firms are accused of intimidating and threatening companies if they do not comply with their left-wing agenda. This raises concerns about potential inappropriate pressure and anticompetitive conduct to align with the firms’ goals and not investors’ best interests pursuant to well-established fiduciary duties.

“My office is committed to fair business practices and competition,” said Attorney General Mark Brnovich. “We will take action to ensure companies are not operating in the shadows to move a political or woke agenda.”