HomeGreen FinanceSustainable InvestingBank Groups Worry ESG Proposals Are 'Anything But Neutral'

    Bank Groups Worry ESG Proposals Are ‘Anything But Neutral’

    By Jon Hill (June 24, 2022, 7:50 PM EDT) — A coalition of national and state banker groups is pushing back on efforts by Biden administration financial regulators to develop climate risk guidance and other ESG-minded rules, warning of potentially “acute, widespread and anything but neutral” effects, and consequences for banks’ ability to serve customers.

    In a Thursday letter, the American Bankers Association teamed up with bank trade associations from all 50 states and Puerto Rico to tell top federal financial regulators that banks should be free to make their own lending and investment decisions without having to bow to “unrelated policy preferences.”

    “Policymakers play an important role in addressing national…

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