May 10, 2023

Sustainable Investment Caucus Statement on Oversight ESG Hearing

Washington, D.C. —  Today, U.S. Congressmen Juan Vargas (CA-52) and Sean Casten (IL-06), co-chairs of the Congressional Sustainable Investment Caucus, released the following statement regarding the Committee on Oversight and Accountability hearing entitled “ESG Part I: An Examination of Environmental, Social, and Governance Practices with Attorneys General”:

“We are disappointed, but not surprised by Republicans' latest attack against free-market principles. Investors understand that climate change is an economic threat and are seeking investment options that mitigate their exposure. Or maybe they want investment options that align with their personal values, either way, this should be the investors choice.

“But, as you heard today, House Republicans do not want investors to have that freedom. They want to dictate what you can and cannot invest in with your hard-earned money. They oppose consumer choice and stand in staunch opposition to capitalism.

“These anti-capitalist policies pushed by Republicans are costing taxpayers hundreds of millions of dollars. In Texas, anti-ESG laws will cost up to $532 million and in Indiana, they could cost nearly $7 billion.

“We urge our Republican colleagues to come to their senses and stop overreaching into U.S. capital markets.”


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