House GOP Will Curb Environmental Spending

A House majority gives Republicans a chance to take on ESG investing. Details from House Correspondent Bernie Bennett.

Republicans are expected to crack down on environmental and socially conscious investing, known as ESG, when they retake the House next year.

ESG, which stands for environmental, social and governance investing, is a broad term for attempts to invest ethically, and can include actions by the government, investment firms and banks or individuals.

Proponents of ESG see it as a way to invest in companies seen as having a positive impact, or that meet a set of environmental and social standards.

Republicans have also raised concerns that money managers who take these factors into account may do so at the expense of profits for their clients.

Bernie Bennett in Washington.