WASHINGTON - Congressman Byron Donalds (R-FL) introduced legislation to enable companies to exclude environmental, social, and political shareholder (ESG) proposals, ensuring the focus remains on corporate growth and competitiveness rather than partisan agendas.
"The collusion between social and corporate activists to abuse our proxy system by flooding corporate boards with immaterial, politically motivated proposals is absurd and must end. As a fiduciary by trade and now a House Financial Services Committee member, I am committed to safeguarding shareholder pecuniary interests and protecting organizational judgment from the rogue SEC and corporate activists. Boards of Directors should have one sole mission, which is the financial stability of their respective companies, and my bill calibrates this crucial objective."
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