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Fannie Mae closes ESG department (2025)
| Environmental, social, and corporate governance |
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| • What is ESG? • Enacted ESG legislation • Arguments for and against ESG • Opposition to ESG • Federal ESG rules • ESG legislation tracker • Economy and Society: Ballotpedia's weekly ESG newsletter |
Fannie Mae—the Federal National Mortgage Association, a government-sponsored enterprise (GSE)—shut down its ESG department, firing over 30 employees, including Laurel Davis, head of the company’s mission and impact program.
The closure follows similar moves at Freddie Mac and reflects a broader shift away from ESG and DEI initiatives promoted during the Biden administration. Leadership changes at the Federal Housing Finance Agency (FHFA), including President Trump’s appointment of Bill Pulte as director, have contributed to the shift.
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Sources estimated that there were more than 30 members of the ESG team — which is part of the broader Mission Team, along side Duty to Serve and Goals. They were let go on Friday, per sources. The ESG program is not a requirement by charter. … The cuts follow the Trump administration’s dismantling of initiatives that include diversity, equity and inclusion (DEI) provisions as well as climate-related mandates. FHFA Director Bill Pulte has spearheaded the administration’s mission to remove any DEI-based initiatives from his agency and the GSEs themselves, though it’s not clear if he had any direct role in the dismissal of the ESG team. ... Pulte, who chairs the boards of both Fannie Mae and Freddie Mac, has also rolled back various climate initiatives that were launched during the Biden presidency. He has also mandated a return to the office for both companies.[1] |
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See also
- Environmental, social, and corporate governance (ESG)
- Economy and Society: Ballotpedia's ESG newsletter
External links
Footnotes
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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