House Republicans and Democrats are set for another showdown over woke policies this week when they debate the impacts of ESG investing in financial regulation.
The House Financial Services Committee will hold separate hearings Wednesday and Friday to examine how environmental, social and corporate governance investing — or ESG — affects the finance industry and whether it contributes to increased insurance or housing costs.
The hearings mark the first in a series from the Financial Services panel on the subject and the latest efforts by House Republicans to combat ESG, part of a broader anti-ESG war being waged by GOP state officials across the country. “These additional reporting obligations place an unnecessary burden on companies, distracting them from their core objectives and hindering their ability to grow and compete in a global economy,” the committee’s hearing advisory said.
The hearing on Friday will focus on ESG’s potential impact on rising insurance and housing costs. Witnesses have not yet been disclosed.
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