Responsible Investor featured insights from ESG Practice Co-chair Jacob Hupart on a lawsuit alleging that three top asset managers worked together to restrict American coal production in connection with ESG-related goals.

In the article, Jacob mentions it has recently become common for conservative opponents of ESG to use antitrust law against ESG-focused investing. However, he explains that this case is unusual as it relies upon allegations of “collusive efforts by minority shareholders to reduce output across an entire industry in the pursuit of additional profits, rather than an explicit agreement among competitors to reduce competition or increase prices…”

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Responsible Investor