GOP Lawmaker Introduces Bill to Prioritize Financial Returns over ESG in Retirement Savings

GOP Lawmaker Introduces Bill to Prioritize Financial Returns over ESG in Retirement Savings
The U.S. Capitol in Washington on March 23, 2023. Richard Moore/The Epoch Times
Savannah Hulsey Pointer
Updated:
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Rep. Rick Allen (R-Ga.) introduced legislation requiring financial advisers investing Americans’ retirement savings to prioritize financial returns over environmental, social, and governance (ESG) factors.

The purpose of HR 5339, the Rollback ESG To Increase Retirement Earnings (RETIRE) Act (pdf), is to change the Employee Retirement Income Security Act of 1974 to specify requirements concerning the consideration of financial and other factors.
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