Political Quotes

“Mr. Speaker, I rise to oppose this misguided resolution, which will tie the hands of investors from doing their jobs and will hurt the retirement savings of millions of hardworking Americans. The evidence is clear. Companies that adopt thoughtful policies to manage their environmental, social, and governance risks outperform those that don't. I will say that again. Companies that have thoughtful policies to manage their environmental, social, and governance risks outperform those that don't. Don't believe me? Ask the shareholders of BP, whose stock fell more than 50 percent after the Gulf oilspill, wiping out billions of dollars of shareholder value; or Volkswagen, whose stock fell 45 percent after they were caught cheating on emissions tests. How about Norfolk Southern? They are in the news lately. Their stock is tanking because of their inattention to managing the safety of their operations. The fact is that environmental, social, and governance issues are financially material to company performance. Any investor who knows what they are doing would be foolish to ignore those factors. I know this because, as State treasurer and as an investor in the private sector, I have spent the last 10 years studying corporate performance. ESG issues matter.…”