Anti-ESG fervor catching fire with Republican lawmakers
By 
Aaron Nicodemus2023-03-02T17:28:00
The blowback against environmental, social, and governance (ESG) initiatives in investments and corporate strategies is quickly building momentum in conservative politics.
“It has become an identifying political issue, where politicians can plant a flag to declare where they stand,” said Lance Dial, a partner at law firm Morgan Lewis. “This is really more about politics than about the law.”
In many states where anti-ESG bills are not just up for debate but have been signed into law, the underlying motivation appears to be protecting core industries—oil and gas, coal, even agriculture—from losing access to capital.
Related articles
-
News Brief‘Biblically responsible’ investment adviser ordered to pay $300K over misleading investors
A “biblically responsible” investment adviser agreed to pay $300,000 and hire an independent compliance consultant to settle charges with the Securities and Exchange Commission that it misled investors, along with other compliance failures.
-
News BriefSEC commissioner: ESG standards attempt to ‘measure the unmeasurable’
Hester Peirce of the Securities and Exchange Commission argued materiality-based standards—not environmental, social, and governance standards—best suit investors’ needs during a recent speech.
-
News BriefReport: SEC mulls tweaks to ease climate-related disclosure rule obligations
The Securities and Exchange Commission is reportedly considering pulling back on key elements of its proposed climate-related disclosure rule following pushback from investors, companies, and the public.
More from Regulatory Policy
-
ArticleFinCEN delays AML rules for realtors and investment advisors until 2028
The Treasury Department’s Financial Crimes Enforcement Network is delaying an upcoming requirement that investment advisors and realtors begin screening clients for money laundering and other illegal activity.
-
News BriefSEC’s Crypto Task Force hits the road with nationwide roundtables
The Securities and Exchange Commission is taking its pro-crypto messaging on the road, planning a series of events for its Crypto Task Force that will be held across the U.S. starting on Aug. 4.
-
Basic PageDOJ warns against using proxies for DEI in federally funded programs
The DOJ is warning that simply scrubbing DEI-related words from policy documents or training materials—and replacing them with thinly veiled proxies—will not protect federally funded organizations from legal scrutiny.