US SIF releases statement on tomorrow’s House Financial Services markup
WASHINGTON, D.C., July 26, 2023 – The House Financial Services Committee will hold tomorrow a committee markup on four bills, containing 23 previously introduced bills that interfere with fundamental investment practices. The markup comes following a series of six hearings held by the House Financial Services Committee during the month of July on ESG topics, which focused heavily on shareholder rights and the proxy process.
Maria , CEO of US SIF: Sustainable Investment Forum, made the following statement: “‘ESG-Month' did not illuminate any new insights about the use of ESG and in fact focused on rehashing old proposals which aim to restrict investors rights in the proxy process and access to independent proxy research. The proxy voting system is an integral component of the communication between a company and its shareowners. These bills fundamentally change this relationship.”
About US SIF and the US SIF Foundation
US SIF: Sustainable Investment Forum is the leading voice advancing sustainable investing across all asset classes. Its mission is to rapidly shift investment practices toward sustainability-aligned goals with the aim of achieving long-term investment goals and preserving our planet and society. US SIF members include investment management and advisory firms, mutual fund companies, asset owners, data and research firms, financial planners and advisors, broker-dealers, banks, credit unions, community development financial institutions and non-profit associations.
US SIF is supported in its work by the US SIF Foundation, a 501(C)(3) organization that undertakes educational and research activities to advance the mission of US SIF, including offering trainings for advisors and other financial professionals on the Fundamentals of Sustainable and Impact Investment.