Vargas, Casten Launch Sustainable Investment Caucus
Washington, D.C. (January 25, 2023) - Today, Congressman Juan Vargas (CA-52) and Congressman Sean Casten (IL-06) announced the launch of the Congressional Sustainable Investment Caucus (CSIC). A video from the press conference announcing the launch can be found here.
CSIC will bring together Members of Congress with experts to better understand sustainable investing and inform policy making that provides investor protections and transparency of information to market participants.
“I’m proud to join my colleague Rep. Casten to launch the Congressional Sustainable Investment Caucus,” said Rep. Juan Vargas. “Sustainable investment has increased tremendously as investors in my district and across the country consider environmental, social, and governance (ESG) factors in their investment decisions. ESG impacts the health and vibrancy of our communities, workplaces, and ecosystem. As our economy continues to grow, we must work together with the SEC to ensure that investors, asset managers, and market advocates receive the disclosures needed to make profitable and ethical decisions in our capital markets.”
“Given the significant growth of assets under management in funds that prioritize ESG factors, Congress has a duty to craft policies that provide investor protections and transparency of information to market participants,” said Rep. Sean Casten. “I’m excited to partner with Rep. Vargas to bring together Members of Congress and experts to progress past the distortion of facts and have robust, open-minded discussions about sustainable investing.”
As of 2022, there were $8.4 trillion in U.S. assets under management in funds that prioritize environmental social and governance (ESG) factors. Globally, the value of assets engaged in sustainable investing is estimated at $41 trillion. It has grown rapidly and is projected to exceed $53 trillion by 2025, representing more than a third of the $140.5 trillion in projected total assets under management.
The Congressional Sustainable Investment Caucus will be co-chaired by Reps. Vargas and Casten. Other founding members include Reps. Bill Foster (IL-11), Raúl Grijalva (AZ-03), Brad Sherman (CA-32) and Emanuel Cleaver (MO-05).
The Sustainable Investment Caucus is endorsed by the following organizations: The Forum for Sustainable and Responsible Investment (US SIF), U.S. Impact Investing Alliance, Ceres, American Sustainable Business Network, As You Sow, Impact Capital Managers, Inc., Interfaith Center on Corporate Responsibility, Northwest Coalition for Responsible Investment, Tobacco Free Portfolios.
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