Republicans to probe ‘cancer’ of ESG investing after midterms

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. 

And 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.

The moves are sure to escalate the battle over ESG investing and have a further chilling effect on Wall Street, where some CEOs are scrambling to emphasize that their firms are still investing in fossil fuels.

Rep. Garland “Andy” Barr (R-Ky.) said in an interview that ESG principles “will be one of the major focuses of oversight of a Republican majority” on the House Financial Services…