GOP to probe ‘cancer’ of climate-friendly investing after midterms

Less than a week before the midterm elections, Republican lawmakers on Capitol Hill are already gearing up to investigate what they see as “woke capitalism,” a reference to Wall Street firms that treat climate change as an economic risk.

Polls suggest the GOP will retake the House, and Republicans there are preparing to grill the chief executives of big financial firms as well as Gary Gensler, the Democratic chairman of the Securities and Exchange Commission, about their efforts to curb climate change. In the Senate, where polls show a toss-up battle for control of the chamber, key senators are pushing legislation to punish businesses that prioritize environmental, social and governance causes — known as ESG — rather than pure profits.