Summary: A U.S. congressional committee, led by Republicans, has accused Wall Street firms of colluding with advocacy groups to pressure companies into reducin

Summary: A U.S. congressional committee, led by Republicans, has accused Wall Street firms of colluding with advocacy groups to pressure companies into reducing their greenhouse gas emissions, potentially violating antitrust laws. The committee's report, which is an interim one with the investigation still ongoing, focuses on Climate Action 100+, a group of over 700 investors aiming to curb emissions. The report alleges that the group bullies asset managers into joining and using their shareholder votes to support climate proposals, which could reduce fossil fuel extraction and raise energy prices. The committee has also criticized major asset managers like BlackRock, Vanguard, and State Street as members of the "climate cartel." Several Wall Street firms have ended their membership in Climate Action 100+ this year due to fears of an antitrust crackdown. The committee's spokesperson has stated that the goal of the investigation is to inform legislative reforms, and it has called witnesses to appear at a public hearing in June.