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Nevilledog

(50,660 posts)
Mon Sep 19, 2022, 03:01 PM Sep 2022

House Republicans Plan to Investigate Chamber of Commerce If They Take the Majority



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Lachlan Markay
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Remarkable illustration of a decade of political realignment: if House Republicans retake the majority next year, they plan to investigate the U.S. Chamber of Commerce

theintercept.com
House Republicans Plan to Investigate Chamber of Commerce If They Take the Majority
Today’s GOP war on the U.S. Chamber of Commerce represents a stunning turnaround from just a few years ago.
11:42 AM · Sep 19, 2022


https://theintercept.com/2022/09/19/house-republicans-chamber-commerce/

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https://archive.ph/LfFHT

REPUBLICANS PLAN TO launch a variety of investigations into the U.S. Chamber of Commerce and many of its largest member corporations if they retake the majority in the House of Representatives this November. The probes, said a GOP member of Congress and multiple Republican operatives who requested anonymity to discuss plans that have yet to be made public, will marry Republicans’ newly formed hostility to the Chamber with the party’s mission to undermine the growth of the ESG investment sector.

The power of ESG — which stands for environmental, social, and governance — criteria to shape company valuations and behavior has become a major source of consternation among conservatives, who argue that companies that follow it are breaking with their fiduciary duty to maximize profits for investors.

The Chamber has infuriated Republicans by endorsing ESG criteria. “Today, for many companies, climate change and carbon emissions impact long-term value, thereby becoming a factor that retirement fund managers should take into consideration,” wrote a Chamber vice president in a typical statement in July 2020.

The congressman highlighted what he saw as the downfalls of that approach. Republicans accuse ESG advocates of using ESG criteria to punish American energy companies, only to then give an advantage to large, foreign energy companies over which the U.S. has little oversight anyways.

*snip*

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House Republicans Plan to Investigate Chamber of Commerce If They Take the Majority (Original Post) Nevilledog Sep 2022 OP
K&R Solly Mack Sep 2022 #1
That's what Fascists do TheRealNorth Sep 2022 #2
Go get'em, Roy! Midnight Writer Sep 2022 #3
And What If Stockholders Want These Companies modrepub Sep 2022 #4
They will squirm when they are told that ESG efforts DO maximize profits. Renew Deal Sep 2022 #5

TheRealNorth

(9,435 posts)
2. That's what Fascists do
Mon Sep 19, 2022, 04:34 PM
Sep 2022

I bet the Chamber of Commerce thought they would still be calling the shots. That's what the German Industrialists thought when they supported Hitler.

Midnight Writer

(21,546 posts)
3. Go get'em, Roy!
Mon Sep 19, 2022, 04:35 PM
Sep 2022

Maybe the corporate donors will realize they are giving money to support lunatics that can turn on anyone, anytime.

modrepub

(3,467 posts)
4. And What If Stockholders Want These Companies
Mon Sep 19, 2022, 05:55 PM
Sep 2022

to abide by some set of social standards? And that includes public employee stock holders.

Another reason why folks should be share owners (and not via some type of mutual fund holder of stocks). Vote your proxy.

Renew Deal

(81,801 posts)
5. They will squirm when they are told that ESG efforts DO maximize profits.
Mon Sep 19, 2022, 06:04 PM
Sep 2022

It’s amazing how republicans suddenly love big government interference. What happened to free trade?

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