Democrats’ ESG Drive Fuels Lobbying Bonanza in Washington

摘要

Environmental, social, and governance lobbying has more than doubled in the past year, as newly-in-charge Democrats push for companies to be more transparent and accountable onissues such as climate change, diversity efforts, and political activities.More than 40 companies, trade associations and advocacy groups have lobbied federal officials on ESG matters so far in 2021, compared to only about 20 in the first quarter of 2020,according to a Bloomberg Law review of public reports. BlackRock Inc., PepsiCo Inc., and ConocoPhillips Co. were among the companies that disclosed ESG lobbying efforts for the firsttime as President Joe Biden took office.Companies’ ESG lobbying is varied, ranging from the SEC’s interest in potential climate-change and political-activity disclosures for public companies to a Labor Department rule thatwould guide how pension and 401(k) managers handle ESG investments. Legislation that would mandate greater diversity on corporate boards has also attracted attention, filings show.