Dem AGs urge Congress not to curb ESG investing

Two Republican-backed bills pending in the House would make it harder for fiduciaries to take such factors into account, they said.
With the Capitol Dome in the background, the Capitol Hill Christmas Tree is lifted from a flatbed truck as it arrives on Capitol Hill in Washington, Friday, Nov. 18, 2022. (AP Photo/Mariam Zuhaib)

Eighteen Democratic attorneys general wrote to congressional lawmakers urging them not to enact legislation that would hinder money managers from considering environmental, social and governance factors in investment decisions.

In their Dec. 14 letter to leaders of the relevant House committees, the attorneys general said ESG factors can help inform fund managers’ risk-return analyses by providing insight into a company’s ability to adapt to climate change, respond to societal trends, and maintain regulatory compliance, among other things.

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