Republican lawmakers move to purge ESG movement from insurance companies

Republican LIn several red states, a number of lawmakers introduced bills that would purge the insurance sector. ESG movement.

To make investments more sustainable and environmentally-friendly, the environmental, social and governance movement aims to get organizations thinking about these factors. Conservatives are increasingly scrutinizing the movement, as well as a rising number of legislators. introduced legislation You should not.

In red states, such as Texas, North Dakota and South Dakota, lawmakers are shifting to ESG for the insurance industry. according to Politico.

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Even though conservative critics have criticized the practice, ESG calculations in insurance are crucial.

“ESG is in the DNA of any insurance company,” Michel Leonard is chief economist at the Insurance Information Institute and chief data scientist. Politico. “It would be very difficult for the insurance industry to insure in an economically viable and sustainable way without paying attention to environmental patterns.”

Republicans have retorted, claiming that ESG could cause havoc in the entire industry. A lack of legal protections will increase pressure for more companies to adopt them.