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Factbox: Industry targets of U.S. Republicans' anti-ESG efforts

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Republican federal and state lawmakers, governors, and attorneys general are pushing back on growing efforts by investors and executives to include environmental, social and governance (ESG) factors in their business decision making.

In all 39 bills targeting aspects of ESG were filed as of the end of 2022, of which 9 had been passed, 14 were proposed, and 16 were dead, according to law firm Morgan Lewis.ASSET MANAGERS53 of the largest U.S. fund firms in March that their participation in industry-wide groups like the Net Zero Asset Managers initiative could be "inconsistent with your clients' financial interests" such as investors who do not share ESG goals.

In addition, legislation pending in states, including Texas and Florida, aims to limit the consideration of ESG factors by pension funds, which could cut off fund firms from public contracts.

 

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