Twenty-two Republican state financial officers—treasurers, auditors, and a comptroller—sent a letter Jan. 28 asking the U.S. Department of Labor (DOL) and the Securities and Exchange Commission (SEC) to issue new rules clarifying and updating ESG policies enacted or proposed during the Biden administration.
The DOL and the SEC each issued ESG and sustainability investing rules under the Biden administration that Republicans opposed. Congressional Republicans sought to block the DOL’s rule permitting the use of ESG in ERISA-governed pension plans using the Congressional Review Act, and Republican attorneys general have aimed to block the rule in court. The SEC’s emissions reporting rule also faced legal challenges and was suspended by the Commission while lawsuits were considered.
The Trump administration may now seek to reverse or otherwise eliminate those significant rules.
Ballotpedia tracks support for and opposition to the environmental, social, and corporate governance (ESG) investing movement. To learn more about arguments for, against, and about ESG, click here. For more information on reform proposals related to ESG policy, click here.