Eighteen AGs Sent Letter Urging Congress to Protect ESG Considerations

Minnesota Attorney General Keith Ellison and Arizona Attorney General Kris Mayes led a coalition of 18 attorneys general in sending a letter to Congress emphasizing the importance of protecting the ability of fund managers to consider environmental, social, and governance (ESG) factors in investment decisions. In the letter, the AGs explained why ESG considerations provide important insights as fiduciaries consider long-term financial risks, especially given the scope of physical and transition risks posed by climate change. The letter also detailed the current regulatory framework of ESG and addressed recent mischaracterizations of ESG, explaining why ESG considerations do not replace or preclude financially-sound reasoning.