ESG debate escalates as GOP goes after influencers

Read the full story at Banking Dive.

As the new year begins, it’s natural to look at the environmental, social and governance policy debate and anticipate how the players would escalate their arguments. 

Last year, 19 Republican attorneys general wrote perennial ESG punching bag BlackRock with concerns over the asset manager’s strategy. 

Several of the same AGs, two months later, launched investigations into whether the nation’s six largest banks, through their ESG practices, were blocking credit to oil companies.

A handful of states — West VirginiaTexas and Kentucky come to mind — have either barred financial institutions they deem hostile toward fossil fuels from accessing new state contracts — or have asked state pension funds to divest their holdings from such companies.

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