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Sean D. Reyes
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AG Reyes Says Net Zero Alliance Favors Agenda, Not Investors

SALT LAKE CITY, UTAH – Attorney General Sean D. Reyes joined a coalition of States, led by Tennessee, in sending a letter to signatories of the Net Zero Financial Service Providers Alliance (NZFSPA), expressing concerns over the legality of NZFSPA obligations – specifically federal and state antitrust and consumer protection laws.

The States highlight that several signatories, including the “Big Four” accounting firms, are coordinating a radical environmental agenda, spearheaded by groups affiliated with the United Nations “Net Zero” movement, supporting global efforts to eliminate greenhouse gas emissions by 2050. According to the coalition, the “Big Four” alone consume three-fourths of the accounting industry. These actions likely violate federal and state antitrust laws and consumer disclosure mandates. The letter requests information from NZFSPA signatories to determine the next steps for the coalition to pursue.

The attorneys general write in their letter, “The substantial commitments you have made as NZFSPA signatories give us pause, as they do not appear consistent with our laws protecting consumers. Although many of you are direct competitors with one another, you have collectively agreed to coordinate the ‘alignment’ of your products and services under the guise of a shared ideological vision. By aligning your products and services with the Paris Agreement’s exacting specifications, you are necessarily taking actions to artificially restrict the supply of goods and services in the real economy. These restraints on trade may inhibit innovation, suppress output, and harm consumers.”

Joining Utah and Tennessee on this letter were the States of Alabama, Alaska, Arkansas, Idaho, Indiana, Iowa, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Montana, Nebraska, New Hampshire, Oklahoma, Ohio, South Carolina, Virginia, West Virginia, and Wyoming.

Read the letter here.