Since 2022, Republican lawmakers in Congress and state attorneys general have sent letters to major banks , pension funds , asset managers , accounting firms , companies , nonprofits and business alliances , putting them on notice for potential antitrust violations and seeking information as part of the Republican pushback against “environmental, social and governance” efforts such as corporate climate commitments.

“This caused a lot of turmoil and stress obviously across the whole ecosystem,” said Denise Hearn, a senior fellow at the Columbia Center on Sustainable Investment. “But everyone wondered, ‘OK, when are they actually going to drop a lawsuit?’”

That came in November , filed by Texas Attorney General Ken Paxton and 10 other Republican AGs, accusing three of the biggest asset man

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