Major business group slams disclosure rules as House Republicans probe ESG investing

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House Republicans scheduled several hearings this month to probe ESG investing, which has become a big target on the right.

Rep. Patrick McHenry and Chairman of the House Financial Service Committee Maxine Waters listen as David Marcus, CEO of Facebook’s Calibra, testifies on "Examining Facebook's Proposed Cryptocurrency and Its Impact on Consumers, Investors, and the American Financial System" on Capitol Hill in Washington, U.S., July 17, 2019.

The industry lobbying group said recent changes from the SEC are harmful to manufacturers and are "putting their ability to finance their growth in jeopardy," according to the letter, which CNBC obtained. NAM plans to send the letter to the committee Monday. The letter is addressed to committee Chairman Rep. Patrick McHenry, R-N.C., and ranking member Rep. Maxine Waters, D-Calif.

The letter underscores the business muscle behind the GOP's battle against policies that back ESG investing. NAM represents about 14,000 companies, including

 

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