ESG Battles Continue with Republican AG Info Requests to Major Asset Managers

  • Tennessee’s Republican AG Jonathan Skrmetti sent requests to ten major asset management firms asking them to provide information regarding how they seek to tackle climate change. The requests are part of an investigation into potential breaches of consumer protection laws through the promotion of environmental, social, and governance (ESG) investing practices.
  • Skrmetti was part of a group of 21 Republican AGs who wrote to asset managers in March to raise concerns regarding ESG voting. Other AGs from that group, including Louisiana AG Jeff Landry, have also sent information requests to asset managers following the letter.
  • Republican AGs have made ESG investment practices a key focus in 2023. We recently covered a House Committee on Oversight and Accountability hearing in which Utah AG Sean Reyes and Alabama AG Steve Marshall testified regarding their beliefs on the impact of ESG investing and raised antitrust and consumer protection concerns.