A Texas judge has greenlighted a multi-state anti-trust climate initiatives lawsuit against major asset managers, says Friends of Science. The US DOE climate science report that rejects claims of a climate crisis is buried by the mainstream press.

CALGARY, AB, Aug. 6, 2025 /PRNewswire/ -- As reported by Reuters on Aug. 01, 2025, a US judge rejected efforts by Blackrock and other fund managers to dismiss a multi-state lawsuit wherein, "Asset managers [are] accused of violating antitrust law via climate activism. Outcome may affect $27 trillion in managed assets," says Friends of Science Society.

The roots of this legal action appear to originate in the Republican House Judiciary Committee's investigation and their June 2024 interim report "Climate Control: Exposing The Decarbonization Collusion In Environmental, Social, And Governance (ESG) Investing." 

Authors of the report claim that the accused collaborated with various shareholder pressure groups like Climate Action 100+ along with various environmental non-governmental organizations (ENGOs) to manipulate markets. The efforts were described by the House Judiciary report as a so-called "climate cartel" and that: "The climate cartel has declared war on the American way of life. The climate cartel is waging 'a Global World War' for net zero against disfavored American companies, including those in the fossil fuel, aviation, and farming industries that allow Americans to drive, fly, and eat."

In a recent video, Friends of Science Society denounced efforts by Net Zero climate activists like David Suzuki, Seth Klein and Margaret Klein Salamon who demand that some kind of War Measures Act should be implemented to fight the alleged 'climate crisis' – leading to nothing more than rationing your freedoms, destroying jobs, driving up costs, and ultimately climate tyranny.

The new US Department of Energy (DOE) climate change report that reveals there is no climate crisis should be front page good news for all people, says Friends of Science. Instead, the mainstream media (MSM) appear to be burying it, as outlined in this Western Standard article of Aug. 04, 2025.

According to a US DOE press release of July 29, 2025, "Among the key findings, the report concludes that CO₂-induced warming appears to be less damaging economically than commonly believed, and that aggressive mitigation strategies may be misdirected..."

As revealed in the US DOE climate science report, a climate risk scenario favoured by banks and climate activists known as Representative Concentration Pathway 8.5 (RCP 8.5) gives the illusion of an impending emergency when framed as the 'business-as-usual' case; in fact, it is based on "implausible" inputs.

Former Wall Street analyst and portfolio manager, Paul H. Tice, wrote a book titled, "Race to Zero: How ESG Investing will Crater the Global Financial System." He denounces ESG and 'sustainable investing' as a scam and has described Germany as the 'sick man of Europe' due to its green energy policies in a Sept. 2024 report on mandatory emissions reporting.

Tilak Doshi outlined in The Daily Sceptic on July 13, 2025, how absurd it is that Germans were told that the Energiewende ('energy transition') would cost households "only around one euro per month, the price of a scoop of ice cream". But now in 2025, German Greens are demanding a price freeze on ice cream as costs skyrocket; their own green policies making it unaffordable.

A new Friends of Science short video shows that there is no energy transition.

In Canada, climate change has ceased to be a top priority, garnering only 4% public support in a recent Leger360 poll, says Friends of Science. A new video short asks if such limited support should be driving expensive and unrealistic climate action, slated to cost $476 billion (2020-2030)?

None-the-less, groups like Climate Action Network in an Aug. 04, 2025, article in The Hill Times, and a June 03, 2025, petition to regulators by Women Leading on Climate continue to demand that climate risk reporting be forced on corporations; and Canadian banks rely on the implausible RCP 8.5 for such risk analysis. 

Friends of Science Society denounced these measures in June 04, 2025, Open Letter to the Office of the Superintendent of Financial Institutions, referencing the work of energy expert Vaclav Smil, whose work explains that Net Zero 2050 is not possible.

About
Friends of Science Society is an independent group of earth, atmospheric and solar scientists, engineers, and citizens that is celebrating its 23rd year of offering climate science insights. After a thorough review of a broad spectrum of literature on climate change, Friends of Science Society has concluded that the sun is the main driver of climate change, not carbon dioxide (CO2).

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SOURCE Friends of Science Society