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House Republicans ramp up ESG opposition (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 |
House Republicans are moving to push back against ESG with their majority in the chamber. The House Financial Services Committee on February 3 announced the formation of what Fox News called a first-of-its-kind ESG working group:
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Republican leaders on the House Financial Services Committee are creating a first-of-its-kind task force to coordinate their response to various proposals related to the environmental, social and governance (ESG) movement. Financial Services Committee Chairman Patrick McHenry, R-N.C., said Friday that the ESG working group would lead the Republican effort to combat the threat ESG policies pose to U.S. capital markets. He added that Financial Services Oversight Subcommittee Chairman Bill Huizenga, R-Mich., would lead the initiative and appointed another eight GOP committee members to serve on the working group. "Progressives are trying to do with American businesses what they already did to our public education system—using our institutions to force their far-left ideology on the American people," McHenry said in a statement shared with Fox News Digital. "Their latest tool in these efforts is environmental, social, and governance proposals. This is why I am creating a Republican ESG working group led by Oversight & Investigations Subcommittee Chair Bill Huizenga." … According to McHenry, the working group will be focused on reining in regulatory overreach from the Securities and Exchange Commission (SEC), reinforce the materiality standard — which requires corporations to disclose key information to investors — "as a pillar" of the financial disclosure regime and hold those who misuse the proxy process that gives shareholders a saying in company decisions accountable. The task force will ultimately organize Republican efforts to fight back against the ESG movement, educate congressmen on the issues and develop policy proposals. … In addition to Huizenga, fellow committee members Reps. Ann Wagner, R-Mo., Barry Loudermilk, R-Ga., Bryan Steil, R-Wis., Andrew Garbarino, R-N.Y., Byron Donalds, R-Fla., Monica De La Cruz, R-Texas, Erin Houchin, R-Ind., and Andy Ogles, R-Tenn., will serve on the working group.[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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