Senate Banking Chair Brown: I Support ESG Efforts that 'Most Bank CEOs Want' to Avoid Lending to Those 'Destroying the Environment'

2 months ago
AMERICA NEWS NOW

On Tuesday’s broadcast of Bloomberg’s “Balance of Power,”  Senate Committee connected Banking, Housing, and Urban Affairs Chairman Sen. Sherrod Brown (D-OH) said helium supports environmental, social, and governance (ESG) efforts by banks to look “more intimately astatine whom they lend to and who are socially liable and who are destroying the situation and who is improving the environment.” And said ESG critics are “climate deniers” oregon deliberation the satellite should beryllium tally by achromatic men.

Host David Westin asked, “Senator, 1 of the challenges for these bankers is environmental, social, and governance due to the fact that they look to beryllium getting caught betwixt immoderate states who are saying, don’t you wage attraction to that oregon we won’t springiness you our money, our pension program money, and immoderate pension plans saying, you amended wage attraction to it. Is determination thing you successful Congress should bash oregon could bash to assistance them?”

Brown responded, “I’m a spot incredulous erstwhile I perceive my colleagues conscionable onslaught them due to the fact that immoderate of these banks really believe, immoderate of these CEOs judge successful radical diverseness and judge successful opportunity, judge successful giving much women a accidental for absorption positions, giving much African Americans and Asians and Latinos an accidental to beforehand successful the banks and assistance those radical successful the communities. And I’m besides adjacent possibly arsenic incredulous that determination are inactive [those]…who proceed to contradict clime change, that contradict the beingness and the menace of clime and they bushed these banks up due to the fact that these banks are putting effort successful looking much intimately astatine whom they lend to and who are socially liable and who are destroying the situation and who is improving the environment. So, I enactment those efforts. I deliberation astir slope CEOs privation to bash that, and I deliberation those politicians that are clime deniers oregon those politicians that deliberation the satellite should beryllium tally by radical — wholly radical that look similar maine are conscionable wrong.”

Follow Ian Hanchett connected Twitter @IanHanchett

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