Comer Announces Hearing on Damaging ESG Practices with Attorneys General

WASHINGTON—House Committee on Oversight and Accountability Chairman James Comer (R-Ky.) will hold a hearing titled “ESG Part I: An Examination of Environmental, Social, and Governance Practices with Attorneys General.” This full committee hearing will examine the concerns of state attorneys general related to the integration of environmental, social and governance (ESG) standards by asset managers and how these ESG principles are being used by activist shareholders to shape corporate behavior.

“ESG principles have become a progressive scheme pushed by radical left-wing groups to pressure large and small businesses to adopt policies that routinely undermine performance,” said Chairman Comer. “These damaging ESG practices directly harm Americans’ savings and disincentivize investment in America’s essential domestic production capacity. Unchecked activists now believe they are running the show and policymakers have been pushed to the side. This hearing will be the first in a series which will examine the consequences of ESG priorities. I look forward to hearing from the attorneys general, who have raised significant concerns over ESG practices at the state-level.”      

In March 2023, 21 state attorneys general warned top asset management firms about using Americans’ savings to push political goals.

WHAT: Hearing titled “ESG Part I: An Examination of Environmental, Social, and Governance Practices with Attorneys General”

DATE: Wednesday, May 10, 2023

TIME: 10:00 AM ET

LOCATION: 2154 Rayburn House Office Building

WITNESSES:

• The Honorable Sean Reyes, Attorney General of Utah
• The Honorable Steve Marshall, Attorney General of Alabama

The hearing will be open to the public and press and will be livestreamed online at https://oversight.house.gov/.