{"id":1908394,"date":"2023-04-01T11:13:23","date_gmt":"2023-04-01T15:13:23","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gop-attorneys-general-threaten-legal-action-to-companies-who-prioritize-esg-invesments\/"},"modified":"2023-04-01T11:16:15","modified_gmt":"2023-04-01T15:16:15","slug":"gop-attorneys-general-threaten-legal-action-to-companies-who-prioritize-esg-invesments","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gop-attorneys-general-threaten-legal-action-to-companies-who-prioritize-esg-invesments\/","title":{"rendered":"GOP attorneys general threaten legal action to companies who prioritize ESG invesments"},"content":{"rendered":"

24<\/div>SHARES<\/span><\/div>

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\n A<\/span> group of Republican attorneys general has sent letters to over 50 of the country’s largest asset managers to warn against prioritizing environmental, social, and governance (ESG) factors when making investment decisions. The attorneys believe that ESG investment decisions could be politically motivated, potentially harming the best interests of clients. The attorneys argue that prioritizing ESG factors would breach current laws and threaten legal action against companies that do not comply.\n <\/p>\n

\n The 21 Republican attorneys general believe that, under current laws, asset managers must provide investment advice that is in their clients’ best interests. They contend that ESG investments are based on political goals and therefore politically based advice, which goes against the asset managers’ legal duties.\n <\/p>\n

\n Joe Biden vetoed a Republican-led bill to repeal a Department of Labor rule that allows retirement fund managers to consider ESG principles when making investment decisions. While the Labor rule does not mandate ESG considerations, it allows fiduciaries to consider these principles when making investment decisions for private companies. Republicans have criticized the Labor rule, dubbing it “woke capitalism”.\n <\/p>\n

\n The group of attorneys general claims that ESG investments might force asset managers to choose between their clients’ financial interests and the policy goals of ESG advocates.\n <\/p>\n

\n The group of attorneys general also states that supporting ESG goals is tantamount to allowing activism to advance non-financial goals, which is against the interests of the vast savings entrusted to asset managers.\n <\/p>\n

\n The warning follows a federal lawsuit filed in January challenging the Labor Department’s rule. The rule has the support of 25 states, including Texas and Montana. The case is still pending in federal court.\n <\/p>\n

For more articles from the Washington Examiner, click here<\/a>.<\/p>\n<\/p><\/div>\n

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A group of Republican attorneys general sent a letter to more than 50 of the country\u2019s largest asset managers to warn against prioritizing environmental, social, and governance factors when making investment decisions. The letter cites concerns that companies will begin making politically motivated investment decisions rather than those that are in the best interest of<\/p>\n","protected":false},"author":1,"featured_media":1908395,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[4625,4849,6997,7003,6203,23317,4431,10276,5483],"class_list":["post-1908394","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner","tag-action","tag-attorneys","tag-companies","tag-esg","tag-gop","tag-invesments","tag-legal","tag-prioritize","tag-threaten"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1908394","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1908394"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1908394\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1908395"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1908394"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1908394"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1908394"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}