Former Trump energy aide to head new investor campaign

 George David Banks makes a speech the 2018 Columbia Global Energy Summit regarding the evaluations of the US' increased crude oil production, oil market and crude oil prices in New York
George David Banks, President Trump's former Energy and Environmental Policy Assistant. Photo: Atilgan Ozdil/Anadolu Agency via Getty Images

A former top energy advisor to President Trump, George David Banks, will lead a new multi-million dollar campaign aimed at limiting the way large investment firms, like BlackRock, influence shareholder resolutions on hot-button issues like climate change.

Why it matters: As the Trump administration retreats on climate policy, investors of publicly traded companies are filling the void by pushing non-binding but symbolically important resolutions urging more disclosure around how climate policies could impact bottom lines. Climate change is among the most high-profile issues in this broader process known as “shareholder advocacy,” along with lobbying disclosure and gun control.