# 119-hr-2358: ESG Act of 2025

119-hr-2358, ESG Act of 2025, is a 119th Congress bill sponsored by Rep. Barr, Andy [R-KY-6] (R-KY); status introduced; PRIA reads it as touching household money (as of 2026-08-22).

- Canonical: https://policyrisk.com/legislation/119-hr-2358
- As of: 2026-08-22
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-2358
- Congress: 119
- Title: ESG Act of 2025
- Status: introduced
- Introduced: 2025-03-26
- Sponsor: Rep. Barr, Andy [R-KY-6] (R-KY)
- Cosponsors: 1
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-08-22

## Summary

**This bill would make best interest based on pecuniary factors the default standard for advisers and brokers.** It would also require SEC studies of climate and other environmental disclosures in the municipal bond market and of rules governing solicitation of municipal securities business. - Retail investors would see advice centered on financial outcomes unless they give informed written consent to consider non-pecuniary goals. If a customer consents, firms would have to disclose expected pecuniary effects over a customer-selected period not to exceed three years and then report the actual pecuniary effects versus a reasonably comparable index, including all fees and costs. - Brokers, dealers, and investment advisers would be required to prioritize pecuniary factors as defined by expected material effects on risk or return. The SEC would have to revise or issue rules within 12 months and the rule changes would apply to actions beginning 12 months after enactment. - The SEC would conduct two separate one-year studies and reports. One would examine how often municipal issuers disclose climate and environmental risks and whether investors consider those disclosures. The other would assess the effectiveness of MSRB Rule G-38 and SEC Rule 206(4)-5 in preventing improper payments, enforcement patterns, and impacts on small, minority, and women-owned firms, and would recommend regulatory or legislative steps.

## Cosponsors (1)

- Rep. Huizenga, Bill [R-MI-4] (R-MI), 2025-03-26T00:00:00.000Z

## Provisions PRIA read

- Investment advice must prioritize financial returns: mixed, low. If enacted, brokers and investment advisers would have to judge your best interest using money-related factors. They could consider social or environmental goals only if you give informed written consent. If you consent, they would show expected money effects over a period you choose, up to 3 years…

## Related bills

- 119-hr-3151: SHIPS for America Act of 2025
- 119-hr-2725: Affordable Housing Credit Improvement Act of 2025
- 119-hr-6955: Main Street Capital Access Act
- 119-hr-8398: Guidelines for Use, Access, and Responsible Disclosure of Financial Data Act
- 119-hr-4669: FEMA Act of 2025
- 119-hr-833: Educational Choice for Children Act of 2025

## Sources
- [119-hr-2358 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/2358)

## Related
- [119-hr-3151: SHIPS for America Act of 2025](https://policyrisk.com/legislation/119-hr-3151)
- [119-hr-2725: Affordable Housing Credit Improvement Act of 2025](https://policyrisk.com/legislation/119-hr-2725)
- [119-hr-6955: Main Street Capital Access Act](https://policyrisk.com/legislation/119-hr-6955)
- [119-hr-8398: Guidelines for Use, Access, and Responsible Disclosure of Financial Data Act](https://policyrisk.com/legislation/119-hr-8398)
- [119-hr-4669: FEMA Act of 2025](https://policyrisk.com/legislation/119-hr-4669)
- [119-hr-833: Educational Choice for Children Act of 2025](https://policyrisk.com/legislation/119-hr-833)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-2358 (as of 2026-08-22).