In S&P Global, Joshua Lichtenstein Discusses Anti-ESG Messaging at U.S. Congress Hearings During ‘ESG Month’
In an S&P Global article, Joshua Lichtenstein, a partner in the employment, executive compensation and employee benefits group and head of the firm’s ERISA fiduciary practice, discussed anti-ESG messaging presented at congressional oversight committee hearings with federal regulators during ‘ESG Month.’
Joshua said the arguments that Republican lawmakers are making are probably meant more to create a David vs. Goliath narrative that pro-ESG forces are really controlling the market and that people with contrary views are getting wiped out, but he does not believe that actually matches the reality.
Joshua notes that even if Congress fails to pass legislation targeting ESG policies, the debate in Congress could filter down to states that are looking for new ways to go after investment firms, such as by raising antitrust concerns.