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ROUNDUP: MAGA Republicans’ War on Responsible Investing Is A Disaster

Jul 27, 2023

Earlier this month, MAGA Republicans announced they were labeling July “ESG month”, and planned to hold a series of hearings and introduce bills attacking responsible investing. Rather than focusing on addressing issues that actually matter to their constituents, like the economy, health care, and gun violence, the GOP Congress is focused on holding bogus hearings attacking investors for being forward-thinking with their investment strategies. 

Their real reasons for picking this particular fight couldn’t be more obvious. MAGA Republicans are in the pocket of the industries that stand to lose the most as investors move towards more responsible investing practices. The GOP only cares about making sure their wealthy donors are happy, completely beholden to the special interests that fund their campaigns. 

Congressional Integrity Project released an ad calling out MAGA Republicans for being in the pocket of big oil and gas companies, detailing exactly how the Republican attacks on responsible investing are purely at the behest of their wealthy donors.

The ad was paired with a report titled “House Financial Services Committee Republicans Are In The Pocket of Big Oil & Other Industries Excluded In ESG Investments.” They have taken over $9.6 million in campaign contributions from four industries commonly included in ESG screens, namely the oil & gas, coal, tobacco, and civilian firearm industries.

CIP also released rapid response products, including statements, fact sheets, and roundups around House Financial Services bogus hearings: