WASHINGTON—Heritage Action, a conservative grassroots organization with two million activists nationwide, including thousands of Georgians, commends the Georgia House of Representatives for passing HB 481, legislation that protects hardworking Georgians’ retirement savings by mandating that asset managers make investments based solely on financial factors, not environmental, social, and governance (ESG) mandates.
Heritage Action’s Georgia State Director James Quarles released the following statement praising the House and urging Governor Brian Kemp to sign legislation protecting investors from ESG:
“For too long, asset managers have used investors' funds to advance a misguided, Left-wing ESG agenda rather than seeking the best financial return on those investments. HB 481 would ensure the retirement savings of everyone in the Peach State's public retirement systems will be invested solely to achieve financial benefits—not divisive political objectives.
“Heritage Action thanks State Representative John Carson and State Senator Marty Harbin for spearheading efforts to fight ESG in Georgia. We applaud the Georgia House of Representatives for passing this important bill and look forward to Governor Kemp swiftly signing legislation to protect Georgians from harmful ESG investing.”
The Georgia General Assembly’s passage of HB 481 follows last year’s Senate passage of SB 266 and builds on the nationwide pushback against the harms of the ESG movement. Georgia joins more than 15 states prioritizing Americans’ fiscal priorities over the Left’s political agenda.
BACKGROUND:
The Heritage Foundation: Why Corporate Environmental, Social, and Governance Enforcement Is Self-Reinforcing Scam
Fox Business: Heritage Foundation Unveils Initiative Opposing ESG Policies Pushed by 'Woke' Corporations
Heritage Explains: The ESG Pushback
Heritage Action: ESGHurts.com