Environmental, social, and governance (ESG) has been one of the most popular investment trends in recent years. While it encourages businesses to be more environmentally and socially responsible, it’s frequently criticized for advancing a “woke” agenda.
Republican state governors like Florida’s Ron DeSantis and Texas’s Greg Abbott are among many who speak out against ESG. The disapproval has led multiple state treasurers to withdraw state funds from asset managers like BlackRock, which have pioneered the ESG movement.
As the November midterm elections approach, numerous Republican lawmakers are also becoming more vocal in their opposition to ESG investing. Rep. Jim Banks (R-Ind.), for example, has labeled ESG as a scam….