While Environmental, Social, and Governance (ESG) investing has garnered attention from the public in recent years — it also has the attention of lawmakers from Montgomery to Washington.

Alabama Attorney General Steve Marshall delivered testimony Tuesday to the U.S. House Oversight Committee, saying ESG is a is a “threat to consumers and democracy.”

ESG investing aims to consider “social and environmental” impacts in addition to financial returns. Marshall told the committee the implications are dangerous.

“ESG poses unique challenges to Alabama’s energy consumers as well as many of our state’s leading industries — like steel, iron, coal, agriculture, timber and, oil and gas,” he said.

ESG is a clear and present danger to consumers and to our democracy.

An unelected cabal of global elites is using ESG to hijack our capitalist system, capture corporations, and threaten hard-earned dollars of American workers.

More from @AGSteveMarshall 👇 pic.twitter.com/BPaE1caBHU

— Oversight Committee (@GOPoversight) May 10, 2023

“An unelected cabal of global elites is using ESG to hijack our capitalist system, capture corporations and threaten hard-earned dollars of American workers.”

He pointed to groups such as Climate Action 100+ and the Net-Zero Banking Alliance that bring investors from around the globe to force a green agenda on companies they’ve blacklisted.

Grayson Everett is a staff writer for Yellowhammer News. You can follow him on Twitter @Grayson270 for coverage of the 2023 legislative session.