May 28, 2021
As an investor and professional in the financial world, I oppose the proposed ESG disclosures. As financial institutions are already subject to public scrutiny on environmental and corporate responsibility. Many institutions reported to investors on ESG practices before this became a public issue or became mandated. I work for a large financial institution and I can certify that the regulatory burden on financial institutions is already very great. From my perspective new regulations cause confusion, chaos, and often cause institutions to create even more complex rule sets to combat loopholes. Ever-changing regulation - especially when already covered by current practices - only causes more confusion, and rarely provides more assurance to customers and stakeholders.