February 5, 2023

Volume XIII, Number 36

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February 03, 2023

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ESG Isn't Woke, It's Capitalism [VIDEO]

With political battle lines drawn over environmental, social, and governance (ESG) disclosures, it is fair to ask whether the sustainability movement is itself sustainable. Our panelists, Dan Crowley (R) and Bob Eccles (D) discussed their support for sustainability as well as the grave political challenges it faces.

While the terms “sustainability” and “ESG” now mean very different things to different people, for purposes of this discussion, ESG factors are that subset of all sustainability issues that matter to investors and are thus important for enterprise value creation. This discussion is timely as the U.S. Securities and Exchange Commission (SEC) is currently working to determine what additional disclosures are needed, particularly with respect to climate-related risks. The SEC will need to determine which disclosures are material to investors and to balance that need with the cost to issuers. Congressional oversight hearings on ESG and SEC rulemaking process are certain. At the same time, a degree of bipartisanship will likely be required in order to advance any and all legislation.

 

 

Copyright 2023 K & L GatesNational Law Review, Volume XII, Number 339
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About this Author

Daniel Crowley, KL Gates Law Firm, Public Policy Attorney
Partner

Dan Crowley is a partner in the firm’s Washington, D.C. office. His practice is focused on public policy issues relating to financial services and capital markets.

Mr. Crowley represents category-leading financial services clients across a broad range of policy issues including accounting & financial reporting, broker-dealer & securities trading, commodities & futures, corporate governance, depository institutions, derivatives & securitization, hedge funds, insurance, investment management, mortgage banking & consumer finance, and retirement...

202-778-9447
Karishma Page, KL Gates Law Firm, Public Policy Attorney
Partner

Based in Washington, D.C., Karishma Shah Page is a member of K&L Gates’ Public Policy and Law Practice. Ms. Page concentrates her practice on federal legislative and regulatory policy, focusing on tax, financial services, retirement, health care, and employee benefits issues. Ms. Page has extensive experience working on a variety of tax legislation, the Dodd-Frank Wall Street Reform and Consumer Protection Act, retirement legislation, the Affordable Care Act, and related rulemaking and regulatory activity.

Ms. Page develops and implements a...

202-778-9128
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