TALLAHASSEE, Fla. — Florida Attorney General James Uthmeier has launched an investigation into two major climate disclosure organizations, examining whether their practices may violate state consumer protection or antitrust laws.
The investigation centers on the CDP (formerly known as the Climate Disclosure Project) and the Science Based Targets Initiative (SBTi), which Uthmeier’s office accuses of potentially coercive practices related to environmental data disclosures. Subpoenas have been issued as part of the inquiry.
According to the Attorney General’s office, the investigation will focus on whether the organizations pressured companies into disclosing proprietary information and purchasing services under the banner of environmental transparency. Officials are also reviewing whether the entities misrepresented the objectivity of their environmental ratings and created incentives for companies to pay for better scores or favorable treatment.
CDP operates what it describes as the world’s largest environmental disclosure system, collecting and evaluating corporate environmental data. The Attorney General’s office alleges the organization charges companies for reporting and revising data and may offer favorable commentary or improved scores in exchange for payment. The office also noted that financial institutions such as Bloomberg, ISS, S&P Global, and Santander reportedly use CDP data to guide investment decisions.
SBTi, co-founded by CDP and the United Nations Global Compact, validates corporate climate goals and directs companies to submit their progress through CDP’s platform. Uthmeier’s office claims this relationship could create a profit-oriented feedback loop.
The investigation will explore possible deceptive trade practices, including:
Selling services to improve environmental scores;
Creating pay-for-endorsement incentives; and
Misrepresenting the neutrality of environmental data used by investors and consumers.
Additionally, state officials will examine whether coordination between CDP and financial institutions may constitute market manipulation or lead to anticompetitive outcomes, particularly if companies face pressure or penalties for not participating.
The inquiry is part of broader efforts by the Florida Attorney General’s office to scrutinize environmental, social, and governance (ESG) initiatives and their influence on corporate behavior and markets.
