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News Release: Lobbyist Proposals Would Solely Serve Corporate Interests, Discarding Accountability

Submitted by on April 2, 2019 – 11:04 am

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FOR IMMEDIATE RELEASE

Apr. 2, 2019

CONTACT:

Carter Dougherty, carter@ourfinancialsecurity.org, (202) 251-6700

Lobbyist Proposals Would Solely Serve Corporate Interests, Discarding Accountability

Today, the Senate Banking Committee is holding a hearing on the application of environmental, social and governance principles in investing and the role of proxy advisors. The House Financial Services Committee is discussing proposals to better hold corporate executives accountable.

Heather Slavkin Corzo, Senior Fellow at Americans for Financial Reform, issued the following statement:

“Corporate lobbyists have put together a set of plans aimed at making it easier for executives to serve nothing but their own narrow self-interests without any scrutiny, eliminating accountability to the shareholders who actually own the company. Shareholder proposals are a way for investors to engage with management on important environmental, social and governance issues. Members of Congress need to see the demand of the corporate lobby to shut down these proposals for what it is: one more effort to silence investors asking hard and important questions. Congress can do a lot to improve corporate accountability, but only if it ignores these self-serving arguments.”

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