Business
North Carolina-headquartered Barings named in Climate Action 100+ probe

The Judiciary Committee of the U.S. House of Representatives, in a report, says its probe has led to a loss of $17 trillion worth of assets under management by the Climate Action 100+. That includes $6.6 trillion from BlackRock, $4.1 trillion by State Street, $3.1 trillion by JPMorgan, $1.89 trillion by PIMCO, and $1.6 trillion by Invesco.
From The Center Square
By Alan Wooten
An interim report by the Judiciary – Climate Control: Exposing the Decarbonization Collusion in Environmental, Social and Governance (ESG) Investing – labels the initiative a “climate cartel,” one which is involved in collusion and has not been investigated by the Biden administration.
One North Carolina company is among more than 130 in the United States being asked by a congressional committee about involvement with environmental, social and governance initiative Climate Action 100+.
U.S. Reps. Deborah Ross and Dan Bishop, a Democrat and Republican respectively from North Carolina, are among the 42 members of the Judiciary Committee in the House of Representatives seeking answers. In addition to the letter sent to Charlotte-headquartered Barings, the probe also seeks answers on involvement by retirement systems and government pension programs.
The probe and letters dated last Tuesday to Climate Action 100+ is trying to find answers to how the companies are operating with tactics, requests and actions; and garner documentations. A noon Aug. 13 deadline is set for responses.
Antitrust law, and the possible breach of it, is cited in each letter. Antitrust laws, the Department of Justice says, “prohibit anticompetitive conduct and mergers that deprive American consumers, taxpayers, and workers of the benefits of competition.”
An interim report by the Judiciary – Climate Control: Exposing the Decarbonization Collusion in Environmental, Social and Governance (ESG) Investing – labels the initiative a “climate cartel,” one which is involved in collusion and has not been investigated by the Biden administration.
“The climate cartel has declared war on our way of life, escalating its attacks on free markets and demanding that companies slash output of the critical products and services that allow Americans to drive, fly, and eat,” the report says. “The Biden administration has failed to act upon the climate cartel’s apparent violations of longstanding U.S. antitrust law. The committee, in contrast, is actively investigating their anticompetitive behavior.”
The report says with launch of the probe came withdrawals from the effort by BlackRock, State Street and JPAM, “three of the world’s largest asset managers.” Asset managers BlackRock, State Street and Vanguard own 21.9% of shares, and vote 24.9% of the shares, within the Standard and Poor’s (S&P) 500.
More than 272,000 documents and 2.5 million pages of nonpublic information were reviewed, the Judiciary says.
Most of the letters went to addresses in New York, Massachusetts and California.
Barings, according to its website, “is a global asset management firm which seeks to deliver excess returns across public and private markets in fixed income, real assets and capital solutions.”
In general, ESG investing – an acronym used in conjunction with environmental, social, and governance policies in investments – measures company policy. These policies typically align with progressive, or left, thoughts when it comes to politics.
Other names of description are sustainability, such as treatment of natural resources, gas emissions and climate regulations. A company’s policies for profits shared in the community, and how health and safety are impacted, relates to the social aspect. Governance usually aligns not only with integrity of accountability toward shareholders, but also diversity in leadership.
Issues in a company’s industry and the principles of ESG often shape policy.
Bishop is a member of the Subcommittee on the Administrative State, Regulatory Reform, and Antitrust within the Judiciary Committee. The 26-member subcommittee is chaired by Rep. Thomas Massie, R-Ky.
Managing Editor
Business
EU investigates major pornographic site over failure to protect children

From LifeSiteNews
Pornhub has taken down 91% of its images and videos and a huge portion of the last 9% will be gone by June 30 because it never verified the age or consent of those in the videos.
Despite an aggressive PR operation to persuade lawmakers that they have reformed, Pornhub is having a very bad year.
On May 29, it was reported that the European Commission is investigating the pornography giant and three other sites for failing to verify the ages of users.
The investigation, which comes after a letter sent to the companies last June asking what measures they have taken to protect minors, is being carried out under the Digital Services Act. The DSA came into effect in November 2022 and directs platforms to ensure “appropriate and proportionate measures to ensure a high level of privacy, safety, and security of minors, on their service” and implement “targeted measures to protect the rights of the child, including age verification and parental control tools, tools aimed at helping minors signal abuse or obtain support, as appropriate.”
According to France24: “The commission, the EU’s tech regulator, accused the platforms of not having ‘appropriate; age verification tools to prevent children from being exposed to pornography. An AFP correspondent only had to click a button on Tuesday stating they were older than 18 without any further checks to gain access to each of the four platforms.”
Indeed, Pornhub’s alleged safety mechanisms are a sick joke, and Pornhub executives have often revealed the real reason behind their opposition to safeguards: It limits their traffic.
Meanwhile, Pornhub — and other sites owned by parent company Aylo — are blocking their content in France in response to a new age verification law that came into effect on June 7. Solomon Friedman, Aylo’s point man in the Pornhub propaganda war, stated that the French law was “potentially privacy infringing” and “dangerous,” earning a scathing rebuke from France’s deputy minister for digital technology Clara Chappaz.
“We’re not stigmatizing adults who want to consume this content, but we mustn’t do so at the expense of protecting our children,” she said, adding later, “Lying when one does not want to comply with the law and holding others hostage is unacceptable. If Aylo would rather leave France than apply our law, they are free to do so.” According to the French media regulator Arcom, 2.3 million French minors visit pornographic sites every month.
Incidentally, anti-Pornhub activist Laila Mickelwait reported another major breakthrough on June 7. “P*rnhub is deleting much of what’s left of the of the site by June 30,” she wrote on X. “Together we have collectively forced this sex trafficking and rape crime scene to take down 91% of the entire site, totaling 50+ million videos and images. Now a significant portion of the remaining 9% will be GONE this month in what will be the second biggest takedown of P*rnhub content since December 2020.”
“The reason for the mass deletion is that they never verified the age or consent of the individuals depicted in the images and videos, and therefore the site is still awash with real sexual crime,” she added. “Since the fight began in 2020, 91% of P*rnhub has been taken down — over 50 million images and videos. Now a huge portion of the last 9% will be gone by June 30 because P*rnhub never verified the age or consent of those in the videos and the site is a crime scene.”
Mickelwait has long called for the shutdown of Pornhub and the prosecution of those involved in its operation. This second mass deletion of content, as welcome as it is, reeks of a desperate attempt to eliminate the evidence of Pornhub’s crimes.
Business
Natural gas pipeline ownership spreads across 36 First Nations in B.C.

Chief David Jimmie is president of Stonlasec8 and Chief of Squiala First Nation in B.C. He also chairs the Western Indigenous Pipeline Group. Photo courtesy Western Indigenous Pipeline Group
From the Canadian Energy Centre
Stonlasec8 agreement is Canada’s first federal Indigenous loan guarantee
The first federally backed Indigenous loan guarantee paves the way for increased prosperity for 36 First Nations communities in British Columbia.
In May, Canada Development Investment Corporation (CDEV) announced a $400 million backstop for the consortium to jointly purchase 12.5 per cent ownership of Enbridge’s Westcoast natural gas pipeline system for $712 million.
In the works for two years, the deal redefines long-standing relationships around a pipeline that has been in operation for generations.
“For 65 years, there’s never been an opportunity or a conversation about participating in an asset that’s come through the territory,” said Chief David Jimmie of the Squiala First Nation near Vancouver, B.C.
“We now have an opportunity to have our Nation’s voices heard directly when we have concerns and our partners are willing to listen.”
Jimmie chairs the Stonlasec8 Indigenous Alliance, which represents the communities buying into the Enbridge system.
The name Stonlasec8 reflects the different regions represented in the agreement, he said.
The Westcoast pipeline stretches more than 2,900 kilometres from northeast B.C. near the Alberta border to the Canada-U.S. border near Bellingham, Wash., running through the middle of the province.

It delivers up to 3.6 billion cubic feet per day of natural gas throughout B.C. and the Lower Mainland, Alberta and the U.S. Pacific Northwest.
“While we see the benefits back to communities, we are still reminded of our responsibility to the land, air and water so it is important to think of reinvestment opportunities in alternative energy sources and how we can offset the carbon footprint,” Jimmie said.
He also chairs the Western Indigenous Pipeline Group (WIPG), a coalition of First Nations communities working in partnership with Pembina Pipeline to secure an ownership stake in the newly expanded Trans Mountain pipeline system.
There is overlap between the communities in the two groups, he said.
CDEV vice-president Sébastien Labelle said provincial models such as the Alberta Indigenous Opportunities Corporation (AIOC) and Ontario’s Indigenous Opportunities Financing Program helped bring the federal government’s version of the loan guarantee to life.
“It’s not a new idea. Alberta started it before us, and Ontario,” Labelle said.
“We hired some of the same advisors AIOC hired because we want to make sure we are aligned with the market. We didn’t want to start something completely new.”
Broadly, Jimmie said the Stonlasec8 agreement will provide sustained funding for investments like housing, infrastructure, environmental stewardship and cultural preservation. But it’s up to the individual communities how to spend the ongoing proceeds.
The long-term cash injections from owning equity stakes of major projects can provide benefits that traditional funding agreements with the federal government do not, he said.
Labelle said the goal is to ensure Indigenous communities benefit from projects on their traditional territories.
“There’s a lot of intangible, indirect things that I think are hugely important from an economic perspective,” he said.
“You are improving the relationship with pipeline companies, you are improving social license to do projects like this.”
Jimmie stressed the impact the collaborative atmosphere of the negotiations had on the success of the Stonlasec8 agreement.
“It takes true collaboration to reach a successful partnership, which doesn’t always happen. And from the Nation representation, the sophistication of the group was one of the best I’ve ever worked with.”
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