House Republicans argue against ESG in financial services report (2024)
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The House Republican Environmental, Social, and Governance Working Group last week released a report on ESG. The report argued the Biden administration promoted ESG initiatives to advance environmental and social policies without congressional support. It also proposed anti-ESG policies related to proxy voting, shareholder proposals, ESG ratings, and other topics:
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The House Financial Services Committee formed the ESG Working Group in February 2023 to “coordinate a response to the troubling increase in efforts to force progressive policies on the private sector,” according to the group’s Aug. 1 staff report. “Politically motivated ESG mandates put Americans’ financial security at risk and have no place in corporate boardrooms,” said Rep. Patrick McHenry, R-N.C., chair of the House Financial Services Committee, in an Aug. 1 news release. “The committee’s ESG Working Group report supports this fact as well as provides recommendations to address the failures of progressive environmental and social policy goals.”… Rep. Bill Huizenga, R-Mich., who chairs the ESG Working Group, said in the news release that the report also “delivers tangible solutions to increase transparency and accountability surrounding the shareholder and proxy process.”[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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