Anti-ESG is putting more effort behind its antitrust enforcement efforts. We’ve seen this novel antitrust theory, which remains unproven in court, applied to climate pacts and DEI. Now we’re seeing an attempt to target three plastics reduction pacts: U.S. Plastics Pact, Consumer Goods Forum, and Sustainable Packaging Coalition. A recent Trellis article shares details:
“Ten AGs last week warned close to 80 companies that their work with three packaging initiatives — the U.S. Plastics Pact, Consumer Goods Forum and Sustainable Packaging Coalition — may violate antitrust and consumer protection laws. The move follows a January letter containing related allegations that another group of Republican AGs sent to Ceres, a nonprofit that works with investors on sustainability issues. The lead author on both letters was Florida Attorney General James Uthmeier, who has previously subpoenaed two mainstays of corporate sustainability efforts, the Science Based Targets initiative (SBTi) and CDP.”
At this point, I feel obligated to restate that this legal strategy has resulted in zero successful litigation to date. That fact isn’t stopping anti-ESG from making threats and conducting investigations. Anti-ESG’s antitrust efforts are beginning to feel like the Bill Murray classic Groundhog Day. A never-ending cycle that keeps repeating itself. State AGs find an industry coalition they don’t like, companies in those coalitions are targeted with investigations, and some companies flee, fearing legal action that never materializes. Almost three years ago, I wrote that “Anti-ESG doesn’t have to win in the courtroom to win in the boardroom.” As much as I hate repeating myself, that sentiment is just as true today as it was in 2023.
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