While framing criticism of ESG as holding Wall Street to account, House Republicans appear to be picking spots where they’ll minimize friction with the financial services industry.
It isn’t even bad for business. It just shifts what counts as good business away from oil extraction. These Republicans are acting to protect very particular businesses from the direction the market would otherwise take.
Republicans who lead the House Financial Services Committee plan to spend the next few weeks holding hearings and voting on bills designed to send a clear signal: Corporations, in particular big investment managers, should think twice about integrating climate and social goals into their business plans. Committee conservatives will target the process in which advocates pressure public companies to adopt environmental, social and governance (ESG) goals using the shareholder voting process.
Of course this is all signaling so they don’t really care if its a workable proposal. They’re just continuing their bullshit fight to block votes they disagree with. In politics its disenfranchisement and whatnot and here its blocking shareholder votes. As you point out, even if they succeed in muzzling everybody they disagree with they’ll still be forced to confront the business reality: this stuff is real and good businesses plan when real shit goes down.
It turns out climate change is bad for business. Better shut them up because the oil lobbyists say we’ll be fine.
It isn’t even bad for business. It just shifts what counts as good business away from oil extraction. These Republicans are acting to protect very particular businesses from the direction the market would otherwise take.
From the article,
Of course this is all signaling so they don’t really care if its a workable proposal. They’re just continuing their bullshit fight to block votes they disagree with. In politics its disenfranchisement and whatnot and here its blocking shareholder votes. As you point out, even if they succeed in muzzling everybody they disagree with they’ll still be forced to confront the business reality: this stuff is real and good businesses plan when real shit goes down.
These fucktards don’t seem to care though.