Florida AG Investigates ESG Market Practices

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  • Florida AG James Uthmeier announced that his office is investigating CDP (formerly the Carbon Disclosure Project) and the Science Based Targets Initiative for potential violations of Florida’s consumer protection and antitrust laws.
  • CDP operates a global environmental disclosure system for companies, capital markets, cities, states, and regions to report and manage their environmental impacts. SBTi, co-founded by CDP, is a corporate climate action organization that develops standards, tools, and guidance for setting greenhouse gas emission reduction targets.
  • According to the press release, the investigation is part of the state’s broader examination of the role of ESG frameworks in business, and will focus on whether the two organizations have engaged in deceptive trade practices or market manipulation related to environmental, social, and corporate governance ESG efforts. The AG alleges that these organizations may have pressured companies into disclosing proprietary information or paying for services in exchange for favorable scores or endorsements. The investigation will focus on whether these practices mislead consumers or create anticompetitive effects.
  • We have previously reported on other ESG-related investigations initiated by AG Uthmeier.
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