The Unitarian Universalist Association has pushed back against the accusation that it – and dozens of other US investors, including faith-based investors – are participating in a 'woke' 'climate cartel in violation of anti-trust law.
The accusation was made in a letter sent by the US House Committee on the Judiciary to more than 130 US-based investors in July. It accused them of being part of a 'climate cartel' colluding to impose radical environmental, social and governance (ESG) goals on American companies.
Other faith-based investors targeted by the letter included the Sisters of Saint Dominic of Caldwell; the Pensions Board of the United Church of Christ; Presbyterian Mission Agency; the Quaker organisation Friends Fiduciary Corporation; JLens, a Jewish investing and shareholder advocacy organisation; Mercy Investment Services; and Wespath Benefits & Investments.
All the recipient organisations, including the UUA, are signatories to Climate Action 100+ (dubbed a 'woke ESG cartel' in the letter) which is an investor-led initiative launched in 2017 that is working to influence corporations to reduce carbon emissions and fight climate change to mitigate financial risks and maximise the value of assets.
In its response to the letter, the UUA said it was 'freely exercising its faith and beliefs and well within its protected free speech rights' by investing with climate justice goals.
It added that it was concerned that the letter 'may seek to improperly invade the Constitutionally protected rights to pursue investment strategies aligned with Unitarian Universalism's values and beliefs'.
The UAA's response was published in an article on UU World, which celebrates liberal religion, and the activities of the UUA.
FaithInvest's Director of Faith-Consistent Investing Programmes Mathew Jensen, who is also senior investment officer for the UUA, was quoted as saying it is unclear what will happen now that the UUA has responded to the committee. But the fact the UUA received the letter, he adds, 'is actually a good thing . . . it shows the UUA Common Endowment Fund is being impactful'.
Read more about the UUA's response, and the accusations of 'woke' investing levelled against more than 130 US investors, by clicking below.