Florida Attorney General James Uthmeier has announced an investigation into the Climate Disclosure Project (CDP) and the Science Based Targets Initiative (SBTi). The inquiry will look into whether these organizations have violated state consumer protection or antitrust laws by pressuring companies to share proprietary information and pay for access under claims of environmental transparency.
“Radical climate activists have hijacked corporate governance and weaponized it against the free market,” said Attorney General James Uthmeier. “Florida will not sit back while international pressure groups shake down American companies to fund their ESG grift. We’re using every tool of the law to stop the Climate Cartel from exploiting businesses and misleading consumers.”
The CDP, founded by British environmental, social, and governance (ESG) advocates, operates a global system for environmental disclosure. Companies are charged fees to report, update, and publicize their data. The CDP also offers services that may improve a company’s score or provide positive statements from CDP executives for additional payment. According to the Attorney General’s office, this scoring is connected to how investment firms like Bloomberg, ISS, S&P Global, and Santander make financial decisions.
SBTi was co-founded by CDP and the United Nations Global Compact. It sells companies validation for their climate goals and then refers them back to CDP for progress reporting. This process raises concerns about a potential profit-driven cycle between the two organizations.
Attorney General Uthmeier’s office will examine if there have been deceptive trade practices such as selling improved scores or endorsements; encouraging corporations to pay for better treatment; and misrepresenting the impartiality of environmental data used by investors and consumers.
The investigation will also consider possible antitrust violations. These include whether coordination between CDP, financial institutions, and investment services could be considered illegal market manipulation, as well as whether efforts by CDP to pressure or penalize non-participating companies create unfair competition in the marketplace.
Uthmeier stated that Florida will continue its efforts to defend free enterprise and protect consumers from what he described as fraudulent ESG schemes presented as science.
