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House Democrats form new caucus to support ESG (2023)
| 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 |
As the new Republican House majority prepares to push back against ESG investing, some House Democrats have launched their own ESG-related caucus to counter Republicans’ efforts:
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A group of House Democrats is forming a caucus to advocate for sustainable investing — a rapidly growing sector that already accounts for trillions in global investment. Reps. Sean Casten (D-Ill.) and Juan Vargas (D-Calif.) announced Wednesday they would be co-chairing the caucus, which also includes Reps. Bill Foster (D-Ill.), Raúl Grijalva (D-Ariz.), Brad Sherman (D-Calif.) and Emanuel Cleaver (D-Mo.). The caucus will advocate for policies sought by the sustainable investment industry, sometimes called environmental, social and governance (ESG) investment. ESG investing has drawn broad interest in the financial sector as well as rising opposition from GOP-led states like Texas, Kentucky, Florida and West Virginia and some Republicans in Congress. The Securities and Exchange Commission (SEC) is a particular focus of current controversy, as it is expected to release its final climate disclosure rules this spring. “ESG impacts the health and vibrancy of our communities, workplaces, and ecosystem,” Vargas said in a statement. “As our economy continues to grow, we must work together with the SEC to ensure that investors, asset managers, and market advocates receive the disclosures needed to make profitable and ethical decisions in our capital markets.” Democratic members of the new caucus said they have had informal talks with moderate Republicans who they see as potential allies and plan to start formal across-the-aisle recruitment talks once the caucus is up and running. The U.S. currently has about $8.4 trillion invested in ESG funds, according to a December study by the Forum for Sustainable and Responsible Investment (SIF), a sponsor of the caucus. That’s roughly 20 percent of the nearly $41 trillion invested globally in funds marketed as sustainable — an amount expected to hit $53 trillion by 2025, according to Bloomberg.[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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