GOP Targets Wall Street and ESG Policies in Climate Fight
House Republicans who lead the Financial Services Committee are planning to hold hearings and vote on bills aimed at discouraging corporations, particularly big investment managers, from integrating climate and social goals into their business plans. The committee will target the process of pressuring public companies to adopt environmental, social, and governance (ESG) goals through shareholder voting. While the bills have little chance of becoming law under President Biden, the messaging and industry response will contribute to the ongoing conflict between Republicans and "woke" capitalism. House Democrats, on the other hand, are supporting the ability of Wall Street and investors to choose how they address societal issues like climate change.