Republicans vow to probe US banks and asset managers’ ‘ESG agenda’ in Congress

Banks and asset managers will face scrutiny from Congress on their “ESG agenda”, according to a senior Republican lawmaker, pointing to tensions ahead between the new House majority and America’s financial sector.

The comments by Andy Barr, the chair of the House financial services subcommittee responsible for financial institutions and monetary policy, fire a new salvo at Wall Street banks and asset managers for their social and climate goals.