Rep. Comer Asks Federal Reserve for Info on ESG Policies

House Oversight Committee Chair Rep. James Comer, R-Ky., sent a request to the general counsel of the Federal Reserve Board of Governors on Monday seeking more information on how environmental, social and governance (ESG) policies continue to influence the actions of asset managers.

“The Committee on Oversight and Accountability is conducting an ongoing review of the integration of environmental, social, and governance (ESG) policies across the U.S. economy,” Comer wrote in his letter to board general counsel Mark Van Der Weide. “As part of this review, the Committee is examining whether (1) certain asset managers are in breach of agreements with the Federal Reserve System and (2) how the broader asset management industry may be subject to the Bank Holding Company (BHC) Act, the Home Owners Loan Act (HOLA), and the Change in Bank Control (CIBC) Act as a result of ESG related pledges and actions taken pursuant to those pledges.”

In May, Comer’s panel held a hearing to examine how asset managers and activist shareholders are teaming up with progressive advocacy groups to advance ESG priorities.

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Rep. Comer Asks Federal Reserve for Info on ESG Policies

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