The House Committee on Oversight and Accountability will hold a hearing tomorrow May 9 to examine concerns of state attorneys general related to the integration of environmental, social and governance (ESG) standards being abused by asset managers.
In March 2023, 21 state attorneys general warned top asset management firms about using Americans’ savings being used to push political goals.
House Committee Chairman James Comer (R-Kentucky) will conduct the hearing which will be open to the public and press and also live-streamed at https://oversight.house.gov.
“ESG principles have become a progressive scheme pushed by radical left-wing groups to pressure large and small businesses to adopt policies that routinely undermine performance.
These damaging ESG practices directly harm Americans’ savings and disincentivize investment in America’s essential domestic production capacity. Unchecked activists now believe they are running the show and policymakers have been pushed to the side.
This hearing will be the first in a series which will examine the consequences of ESG priorities. I look forward to hearing from the attorneys general, who have raised significant concerns over ESG practices at the state-level.”
Rep. James Comer, (R-Kentucky)
Hearing details listed below:
WHAT: Hearing titled “ESG Part I: An Examination of Environmental, Social, and Governance Practices with Attorneys General”
DATE: Wednesday, May 10, 2023 TIME: 10:00 AM ET
LOCATION: 2154 Rayburn House Office Building
WITNESSES: The Honorable Sean Reyes, Attorney General of UtahThe Honorable Steve Marshall, Attorney General of Alabama
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Another investigation. A necessary one.
Will it lead to any protections for average investors?