{"id":2343554,"date":"2024-09-19T17:02:02","date_gmt":"2024-09-19T21:02:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/house-passes-anti-esg-legislation-as-gop-targets-woke-policies-washington-examiner\/"},"modified":"2024-09-19T17:05:10","modified_gmt":"2024-09-19T21:05:10","slug":"house-passes-anti-esg-legislation-as-gop-targets-woke-policies-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/house-passes-anti-esg-legislation-as-gop-targets-woke-policies-washington-examiner\/","title":{"rendered":"House passes anti-ESG legislation as GOP targets \u2018woke\u2019 policies &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fhouse-passes-anti-esg-legislation-as-gop-targets-woke-policies-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2343554&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The House\u200d of Representatives has passed\u200b several \u200bpieces\u200b of legislation aimed at\u200d countering\u200c ESG (Environmental, Social, and Governance) policies and what \u2062they term &#8220;woke&#8221;\u200d financial and educational practices. This initiative is seen as a strategic move by House Republicans as they \u2064prepare for upcoming elections, especially in \u2063light of the\u2063 GOP&#8217;s potential control of both legislative chambers and the presidency.<\/p>\n<p>The first bill, \u2062the &#8220;Protecting Americans\u2019 Investments from \u200bWoke \u2062Policies Act,&#8221; restricts the ability of fiduciaries to consider ESG factors when managing retirement \u200baccounts, challenging a rule from the Biden\u200c administration that allowed such considerations. This legislation saw bipartisan support with three Democrats voting in \u2064favor.<\/p>\n<p>The second measure passed is the &#8220;End Woke Higher Education Act,&#8221; which imposes First \u200bAmendment requirements on colleges and universities to \u2063qualify for federal funding and prohibits ideological tests \u2064from accreditors. This bill also garnered\u200d some Democratic support and faced opposition from the White House, which claims it would undermine the\u200d diversity \u2062efforts\u200b in educational institutions.<\/p>\n<p>Lastly,\u200b the &#8220;Prioritizing\u2064 Economic Growth Over Woke Policies Act&#8221; seeks \u200bto limit corporate\u2063 disclosures demanded by\u2063 the Securities and Exchange Commission \u2062(SEC), which GOP \u2064lawmakers argue \u2063are \u200bunnecessary regulations rooted \u2064in social agendas. This bill was also met with resistance from the administration, which believes it would hinder the SEC&#8217;s ability to perform its duties.<\/p>\n<p>these legislative efforts reflect a clear Republican focus on\u200b countering what\u200d they perceive as a cultural\u200c shift towards woke policies, as they gear up for the electoral challenges ahead.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">House passes anti-ESG legislation as GOP targets &lsquo;woke&rsquo; policies<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_1760343\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>House Republicans passed a <a href=\"https:\/\/www.washingtonexaminer.com\/news\/house\/3155412\/house-gop-woke-week-spending-bill-limbo\/\" target=\"_blank\" rel=\"noopener\" title>tranche of legislation<\/a> targeting <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/esg\/\" target=\"_blank\" rel=\"noopener\" title>ESG<\/a> and &ldquo;<a href=\"https:\/\/www.washingtonexaminer.com\/tag\/woke\/\" target=\"_blank\" rel=\"noopener\" title>woke<\/a>&rdquo; financial and educational policies, a preview of actions the GOP could take next year if it takes control of both chambers and the presidency. <\/p>\n<div class=\"article-paywall\">\n<p>ESG, which is short for <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/energy-and-environment\/\" target=\"_blank\" rel=\"noopener\" title>environmental<\/a>, social, and governance, is a financial model that centers on <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/watch-live-house-oversight-committee-holds-esg-hearing\/\" title=\"WATCH LIVE: House Oversight Committee holds ESG hearing\">compelling social change<\/a> through investment and divestment. With ESG, investment managers seek not solely to maximize profits but incorporate other considerations into financial decisions, such as a company&rsquo;s greenhouse gas emissions.<\/p>\n<p>While ESG policies and ESG investing have been touted by some on the Left as an effective means to affect change on matters like climate change, Republicans have launched a full-fledged assault against it, branding such policies as &ldquo;woke&rdquo; and part of a culture war. They argue that companies and funds should be squarely focused on maximizing returns and not on pushing ESG or dabbling in social and environmental matters.<\/p>\n<p>The Republican fight against ESG has been waged at both the state and national level. As part of a &ldquo;woke week,&rdquo; the House passed three measures this week. <\/p>\n<p>The first bill, the Protecting Americans&rsquo; Investments from Woke Policies Act, is a response to a Biden administration rulemaking. The Labor Department rule in question allowed, though does not require, fiduciaries to weigh ESG factors when <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/desantis-to-take-action-against-esg\/\" title=\"DeSantis to Take Action Against ESG\">making investment decisions<\/a> for U.S. retirement accounts<\/p>\n<p>The legislation, which was sponsored by Rep. Rick Allen (R-GA), passed the House in a 217-206 vote, with three Democrats joining all Republicans in passing it. The Democrats voting in favor were among those thought to be most vulnerable in the coming election: Jared Golden of Maine, Marie Gluesenkamp Perez of Washington, and Mary Peltola of Alaska.<\/p>\n<p>&ldquo;There is no room for ESG when considering how to invest Americans&rsquo; lifesavings,&rdquo; the conservative Americans for Tax Reform said in a letter ahead of the vote. &ldquo;Retirement plan managers should only consider pecuniary factors when making investment decisions and voting proxies.&rdquo;<\/p>\n<p>In a statement of administration policy released ahead of the vote, the White House said that it opposed the legislation, which would &ldquo;severely restrict the ability of fiduciaries of job-based retirement plans to make informed investments on behalf of plan participants and beneficiaries.&rdquo;<\/p>\n<p>The second piece of legislation, dubbed the End Woke Higher Education Act, targets colleges and universities, which have increasingly been under the spotlight following the Hamas attack on Israel and subsequent protests that have rocked campuses across the country. <\/p>\n<p>The legislation, which was introduced by Rep. Burgess Owens, passed the House in a 213-201 vote, with four Democrats joining Republicans.<\/p>\n<p>It amends the Higher Education Act of 1965 to require that colleges and universities to &ldquo;put in place First Amendment principles&rdquo; in order to receive federal funding. It also bars accreditors from requiring &ldquo;partisan frameworks and ideological litmus tests&rdquo; for schools in order to receive accreditation.<\/p>\n<p>&ldquo;What is happening on college campuses and in classrooms goes against the values America was built on,&rdquo; House Majority Leader Steve Scalise&rsquo;s (R-LA) office said in a news release. &ldquo;House Republicans are fighting to ensure American students are able to freely express themselves and have the opportunity to allow their ideas to compete without repercussion.&rdquo;<\/p>\n<p>The White House opposes the legislation and said its adoption would &ldquo;micromanage&rdquo; colleges and universities, &ldquo;undermining their ability to recognize and promote diversity.&rdquo;<\/p>\n<p>&ldquo;Today marks a major victory for academic freedom in <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/a-survival-guide-for-conservatives-during-the-biden-years\/\" title=\"A Survival Guide for Conservatives During the Biden Years\">higher education<\/a> and a decisive blow to politicized accreditors who have worked to make the adoption of woke DEI agendas a condition for federal funding eligibility,&rdquo; Owens said.<\/p>\n<p>The House also passed the Prioritizing Economic Growth Over Woke Policies Act, which was introduced by Rep. Bill Huizenga (R-MI). The bill passed in a 215-203 vote, with three Democrats voting with Republicans.<\/p>\n<p>The legislation would limit corporate disclosures required by the Securities and Exchange Commission, as response to activists who have tried to require that companies provide disclosures related to climate and social goals. Conservatives have decried such efforts as social regulation via the financial system. <\/p>\n<p>The bill also would prevent the SEC from forcing a publicly traded company to include a shareholder proposal or even the discussion of a proposal in a proxy statement.<\/p>\n<p>&ldquo;These misguided ESG efforts don&rsquo;t benefit our banking system or capital markets,&rdquo; Huizenga said Thursday on the House floor. &ldquo;They certainly don&rsquo;t help consumers, workers, job creators, everyday investors, or retirement savers.&rdquo;<\/p>\n<p>The White House also opposes this legislation. The administration said that its passage would &ldquo;fundamentally limit the SEC&rsquo;s ability to fulfill its mission&rdquo; and &ldquo;would disempower stakeholders and investors.&rdquo;<\/p>\n<p>Taken together, the anti-ESG and anti-woke legislation shows that Republicans are prioritizing such matters in the lead up to the November elections. GOP state officials have also been pushing back on ESG.<\/p>\n<p>For instance, in a&nbsp;<a href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/2941273\/mississippi-slaps-blackrock-cease-and-desist-order-esg\/\" target=\"_blank\" rel=\"noreferrer noopener\">cease-and-desist order<\/a>&nbsp;from this year, Mississippi Secretary of State Michael Watson accused money manager BlackRock &mdash; a frequent target of anti-ESG&nbsp;ire &mdash; of making &ldquo;fraudulent statements, omissions, and other misrepresentations&rdquo; about its environmental, social, and governance strategies.<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><\/strong><\/p>\n<p>West Virginia Treasurer Riley Moore &mdash; who is now running for a seat in Congress &mdash; has banned several banks from state contracts over their ESG policies and &ldquo;boycotts&rdquo; of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/liberal-dark-money-network-is-behind-grassroots-support-for-dem-climate-bill\/\" title=\"Liberal Dark Money Network Is Behind \u2018Grassroots\u2019 Support for Dem Climate Bill\">fossil fuel companies<\/a>. Among them are BlackRock, Goldman Sachs, J.P. Morgan, Morgan Stanley, and Wells Fargo. Those banks have lost access to billions of dollars in annual inflows and outflows.<\/p>\n<p>The grouping of &ldquo;woke week&rdquo; legislation comes after Republicans dubbed last week &ldquo;China week.&rdquo; The House <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/national-security\/3148072\/house-gop-passes-bills-contrasting-china-policies-biden-harris\/\" target=\"_blank\" rel=\"noopener\" title>passed several pieces of legislation<\/a> to curb China&rsquo;s growing influence and present a contrast with the Biden-Harris administration.<\/p>\n<\/div>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_1760343\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"1760343\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The House has approved a series of bills aimed at combating ESG (environmental, social, and governance) initiatives and what Republicans label as &#8220;woke&#8221; policies in finance and education. This legislative push serves as an indication of potential actions the GOP may pursue next year if they gain control of both congressional chambers and the presidency. ESG refers to a financial framework that encourages social change through investment strategies that consider factors beyond profit maximization, such as a company&#8217;s carbon emissions. While some on the Left advocate for ESG investing as a way to address issues like climate change, Republicans have vehemently opposed it, characterizing these policies as part of a cultural conflict. They argue that businesses should focus solely on maximizing returns rather than engaging in social or environmental issues.<\/p>\n<p>The Republican opposition to ESG has been evident at both state and national levels. During what they termed &#8220;woke week,&#8221; the House passed three significant bills this week. The first bill, known as the Protecting Americans\u2019 Investments from Woke Policies Act, responds to a rule from the Biden administration allowing fiduciaries managing U.S. retirement accounts to consider ESG factors when making investment decisions\u2014though it does not mandate this practice. Sponsored by Rep. Rick Allen (R-GA), this legislation passed with a vote of 217-206; three Democrats joined all Republicans in support.<\/p>\n<p>In advance of the vote, Americans for Tax Reform expressed their stance against ESG considerations in retirement investments: \u201cThere is no room for ESG when considering how to invest Americans\u2019 lifesavings.\u201d The White House issued an opposing statement before the vote, arguing that this legislation would significantly limit fiduciaries&#8217; ability to make informed investment choices on behalf of plan participants.<\/p>\n<p>The second bill passed was called the End Woke Higher Education Act, which targets colleges amid heightened scrutiny following recent events related to Israel and campus protests nationwide. Introduced by Rep. Burgess Owens (R-UT), it requires educational institutions receiving federal funding to adhere to First Amendment principles while prohibiting accreditors from imposing partisan frameworks or ideological tests for accreditation purposes.<\/p>\n<p>House Majority Leader Steve Scalise&#8217;s office stated that current happenings on college campuses contradict foundational American values: \u201cHouse Republicans are fighting&#8230;to ensure American students can freely express themselves.\u201d The White House criticized this bill too, claiming it would micromanage higher education institutions and undermine diversity efforts.<\/p>\n<p>Additionally, lawmakers approved the Prioritizing Economic Growth Over Woke Policies Act introduced by Rep. Bill Huizenga (R-MI). This legislation aims to restrict corporate disclosures mandated by the Securities and Exchange Commission regarding climate-related goals pushed by activists\u2014an effort conservatives view as inappropriate regulation through financial channels.<\/p>\n<p>Collectively, these anti-ESG measures reflect Republican priorities leading up to upcoming elections while also highlighting ongoing resistance against similar initiatives at state levels across various GOP-led states targeting firms like BlackRock over their environmental strategies or fossil fuel company boycotts<\/p>\n","protected":false},"author":3360,"featured_media":2343555,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/09\/esg-congress-woke.webp","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[13070,6203,32304,4762,41257],"class_list":["post-2343554","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner","tag-anti-esg","tag-gop","tag-house-of-representatives","tag-legislation","tag-woke-policies"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/09\/esg-congress-woke.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2343554","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\/3360"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2343554"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2343554\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2343555"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2343554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2343554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2343554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}