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Virginia Foxx (R), an Anti-ESG activist, was just appointed Chair of the Labor Committee She now oversees Pension Plans which under Biden "recommended" ESG standards on retirements And guess which industry she owns millions of stock in? The Anti-ESG Industry ☠️
But here are the stats on her Energy, Utilities, and Oil trades Individual Trades: 156 Buys: 136 Sells: 20 Total Volume: $6,260,000 Buys: $3,795,000 Sells: $2,465,000
Now to her trades: since 2020 Representative Foxx has been one of Congress' most active traders 417 trades, $12M+ in volume, and just last week reported 36 another trades including 23 that violated the Stock Act Which means a hefty $250 fine should be on the way soon
In 2021, under Biden, the Department of Labor initiated a climate change-related executive order to suspend this rule enacted by Trump Rep. Foxx publicly blasted this saying: “The left’s woke agenda is putting the retirement savings of many Americans at risk"
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Is she likely to fight against those "ESG recommendations" implemented by the previous DOL? Yes. Will the oil & energy stocks benefit from this? Yes. Will she make bank if the anti-ESG rule is introduced again? Also Yes.
Back when Trump was President, he introduced the "Financial Factors in Selecting Plan Investments" It required retirement plan fiduciaries to invest solely for portfolio returns and not take anything else into consideration AKA designed to restrict ESG investing
