February 28, 2023
Home Makes an attempt to Hamstring Sustainable Funding, Passing Anti-ESG Measure
WASHINGTON, D.C. – The U.S. Home of Representatives accredited a measure right now that may block the Division of Labor from implementing a rule that enables plan fiduciaries to contemplate local weather change and different environmental, social, and governance (ESG) components once they choose retirement investments and train shareholder rights. Following is an announcement from Gregory Wetstone, President and CEO of the American Council on Renewable Vitality (ACORE):
“This invoice is an assault on the free market and the discretion of Individuals to make their very own funding choices. With this vote, the U.S. Home is selecting to disregard the seasoned judgment of funding professionals in a blatant try and hamstring ESG investing, one of many nation’s most necessary and fastest-growing funding tendencies. The Labor Division issued this rule as a result of ESG concerns are financially materials, which is why sustainability investments are sometimes acknowledged as the only option for realizing most long-term returns.
“We urge the Home to as an alternative contemplate the Freedom to Spend money on a Sustainable Future Act, which would supply retirement plan fiduciaries flexibility to make their very own choices. Somewhat than politicize individuals’s retirement investments, we should always let the market work as supposed.”
About ACORE:
For greater than 20 years, the American Council on Renewable Vitality (ACORE) has been the nation’s premier pan-renewable nonprofit group. ACORE unites finance, coverage and expertise to speed up the transition to a renewable vitality economic system. For extra info, please go to www.acore.org.
Media Contacts:
Alex Hobson
Sr. Vice President, Communications
American Council on Renewable Vitality
[email protected] | 202.777.7584 (o) | 202.594.0706 (c)
Dylan HelmsAffiliate, CommunicationsAmerican Council of Renewable Vitality[email protected] | 202.891.7868 (o) | 727.290.8804 (c)
