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February 10, 2023

Regulatory Round-up: US Republicans plan anti-ESG vote; UK CMA reviews green claims

Republicans in the US House of Representatives have said they will seek to vote on legislation by July that would undermine the inclusion of ESG factors in investment decisions, as reported by Bloomberg. Michigan’s representative Bill Huizenga will be heading a working group investigating this area. A Democrats-led Senate and White House weaken the chances of such legislation being passed.

The European parliament’s industry committee has voted to include mortgage portfolio standards in the proposed EU Energy Performance of Buildings Directive and ban fossil fuels heating systems by 2035. “Building renovation is one of the sectors facing the largest investment gap in the EU,” said the Commission in a 2020 communication, estimating that around €275bn of additional investments are needed each year.

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