Set up a task force on social and environmental practices as cover for collusion
What the document says“The FTC should set up an ESG/DEI collusion task force to investigate firms”
The chapter suggests some firms use environmental, social and governance commitments and diversity programs as what it calls reputational laundering to avoid enforcement of potentially criminal activity. It asks that the task force look particularly at private equity, to see whether the practice is used to meet targets, fix prices or reduce output, and separately that Congress investigate the same question.
What the document actually says“The FTC should set up an ESG/DEI collusion task force to investigate firms”
Set up a team to look into this. It would check whether firms use these goals to fix prices.
Firms often announce green and social goals. The book asks whether some use them as cover. It suspects deals to keep prices up.
Protecting American Investors From Foreign-Owned and Politically-Motivated Proxy Advisors
2025-12-11 · 90 FR 58503
Section 3(b)(i) of the order directs the FTC Chairman to investigate whether proxy advisors are conspiring or colluding, explicitly or implicitly, to diminish the value of consumer investments, and the order frames those firms' conduct around diversity, equity, and inclusion and environmental, social, and governance policies. So an FTC inquiry into collusion tied to social and environmental practices exists. Three things the chapter asked for are absent. No task force is created; the work is assigned to the Chairman. The inquiry covers two named proxy advisory firms rather than firms generally, and private equity, which the chapter singles out, is not mentioned. The collusion theory is diminishing the value of consumer investments, not using the practices as cover to meet targets, fix prices or reduce output, and nothing asks Congress to investigate the same question. EO 14364 of December 6, 2025 does create FTC and Justice Department task forces to investigate collusion, which shows the instrument in use, but its subject is the food supply chain.
The order tells the trade commission to look into whether proxy advisers act as a bloc. Their conduct is framed around diversity and green investing aims. But no task force is set up, and the work goes to the chairman alone. It covers two named firms, not firms at large.