Analysis
One problem for CEOs who direct their companies to follow the goals of environmental, social, and governance (ESG) criteria is that in doing so, they may be breaking the law. According to legal experts, ESG initiatives can cause companies to break antitrust, civil rights, and Employee Retirement Income Security Agency (ERISA) laws.
“The way ESG is being implemented is completely antidemocratic, which is to say that they are just flouting laws,” George Mason University law professor Todd Zywicki told The Epoch Times. “They’re flouting democratically elected laws and bringing things about that are often illegal.”
Violation of Antitrust Laws
According to a report titled “Liability Risks for the ESG Agenda” (pdf), by Washington D.C. law firm Boyden Gray, companies that take part in coordinated actions against other companies or industries could be violating U.S. antitrust laws. The report states, “Federal law prohibits companies from colluding on group boycotts or conspiring to restrain trade, even to advance political or social goals.”…