California Democratic Rep. Brad Sherman argued Wednesday that Republican opposition to environmental, social and governance (ESG) investment mandates is consistent with the mandate of Leon Trotsky and the international socialists who support him. .
Sherman made the comparison at Wednesday’s House Financial Services Committee hearing titled “Protecting Investor Interests: Environmental and Social Policy Considerations in Financial Regulation.” Sherman argued that Republican opposition to pro-ESG investing continues the anti-capitalist mandate of Trotsky and his supporters, the Socialist Labor Party.
“Shareholders should take the lead, not management who do not own the company. We should be able to get ,” Sherman said. “For more than 100 years, followers of the Socialist Labor Party, Leon Trotsky, have waged a war against this model of capitalism. (Related: David Blackmon: Are BlackRock bosses ashamed of ESG? Get some rest)
Many Republicans in Congress have targeted pro-ESG investment initiatives, claiming they are “scams” that inject unnecessary, uneconomic and politicized considerations into corporate operations. US pension funds, insurance companies, university endowments, philanthropic foundations and other large institutional investors invest in his ESG funds. according to to the Associated Press.
The Securities and Exchange Commission (SEC) has promulgated regulatory changes promoting the incorporation of politically-motivated proposals into proxies and the rollback of reforms to its rules on proxy solicitation. according to In the hearing memorandum.
At the state level, Florida Governor Ron DeSantis formed a coalition of 18 governors in March to combat ESG-friendly investment policies. U.S. ESG funds underperformed overall compared to the U.S. equity market overall in 2022. according to to the Barons.
Leon Trotsky was a devout communist agitator who played a leading role in the overthrow of the Russian Empire and introduced a totalitarian communist regime in the Soviet Union. according to In the Encyclopedia Britannica.
Sherman has a 97% lifetime approval rating from voters in the League of Conservation. according to to that website. Another environmental activist group, the Sierra Club, gave Sherman a similar endorsement score throughout her career. according to to his website.
Sherman’s office did not immediately respond to the Daily Caller News Foundation’s request for comment.
All content produced by the Daily Caller News Foundation, an independent, non-partisan news distribution service, is available free of charge to legitimate news publishers capable of serving large audiences. All reissues must include our company logo, press byline, and DCNF affiliation. If you have any questions about our guidelines or partnering with us, please contact us at licensing@dailycallernewsfoundation.org.
