The ESG Jihad
As anticipated, House Republicans have made July their “ESG month” with HFSC and other panels planning an array of actions culminating in an HFSC mark-up of as-yet-unintroduced legislation later this month. Before writing this off as part of the GOP’s pre-election “culture-war” campaign, it’s worth remembering that the Democratic-controlled Senate still approved a House measure overturning Department of Labor ESG pension-investment rules; only a Presidential veto saved those rules and it might take more of them to counter what Republicans now have in store for the financial-services sector.