House Bill To Limit Responsible Investing Would Harm Nation's Capital Market System

2024-09-19 02:00:34

(MENAFN- 3BL) September 19, 2024 /3BL/ - Yesterday the U.S. House of Representatives passed the first of two bill packages aimed at restricting the ability of investors to act on climate risk. This legislation would harm the nation's capital market system by limiting the consideration of financially relevant information and putting retirement security at risk.

Ceres issued the following statement on the two bill packages:

The House is expected to vote today on the second bill package, which would restrict the authority of the U.S. Securities and Exchange Commission to compel critical disclosures and oversee the shareholder democracy process. If enacted, the bill would dramatically shift the balance of power away from investors and towards corporate management, restricting transparency and inhibiting shareholder engagement.

About Freedom to Invest

Freedom to Invest launched in 2023 to mobilize investment and business voices to defend against state and federal policies designed to undermine responsible business and financial investment practices. Hundreds of anti-ESG bills have been defeated in the last two years, including state legislation that would ban certain asset managers from working in states, make it a felony to use responsible investing principles, and upend municipal bond markets. For more information, visit .

About Ceres

Ceres is a nonprofit advocacy organization working to accelerate the transition to a cleaner, more just, and sustainable world. United under a shared vision, our powerful networks of investors and companies are proving sustainability is the bottom line-changing markets and sectors from the inside out. For more information, visit ceres.

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