Climate Power: GOP Should Focus on Lowering Costs for Families Instead of Undermining Responsible Investing

WASHINGTON, D.C. – In response to President Biden issuing his first veto on Republicans’ anti-responsible investing legislation, Climate Power Executive Director Lori Lodes released the following statement: 

“Instead of passing legislation that lowers costs for families and creates good-paying clean energy jobs, congressional Republicans are wasting time trying to undermine responsible investing practices and taking away workers’ rights to make their own financial decisions. Again and again, Republicans have proven that they would rather serve pro-polluter interests over their constituents—from voting against the Inflation Reduction Act to sending this anti-responsible investing bill to Biden’s desk and, now, their new Big Oil wishlist energy package as their top priority bill.  

“Voters continue to support action on climate and clean energy and don’t want the government mandating how they manage risk in their investment strategies. President Biden knows this, which is why he vetoed this resolution. Despite the GOP’s efforts in Congress, the clean energy economy is booming and here to stay. Now is the time to focus on implementing our affordable clean energy plan so that every community across the country can benefit from this economic boom.”

While Congressional Republicans are attacking responsible investing, their campaign to demonize clean energy is not registering with voters. According to a poll conducted by Climate Power and Data for Progress, nearly 60% of voters have never heard of ESG investing. Additionally, 54% of voters agree that financial managers should be allowed to consider environmental factors, while voters support President Biden vetoing Republicans’ anti-responsible investing bill by a 15-point margin.