Mr Szapiro said: “There is no need for regulations on avoiding investments that are chosen principally to create some alternative benefit; it’s very clear you can’t do that and everyone knows that.” The strict requirements are intended to dissuade investors from “sniffing around anything that looks like ESG,” he added. The proposal, which is open for public comment until the end of the month, stands in stark contrast to the regulations coming out of Europe, where climate risk is taking centre stage. Christine Lagarde, president of the European Central Bank, told the Financial Times this week that the ECB is exploring “every avenue available in order to combat climate change”, including through its flagship bond-buying programme.

https://www.ft.com/content/abfa7a6f-79e3-4abd-9aee-93d99384ef36