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DNC Press Defend ESG as GOP Finally Attacks

The Missouri Independent wants you to believe that ESG is just a moneymaking way for investment firms to measure investment success for the millions of investors these few giant firms represent.  In an article about the GOP rightly removing state pension funds from ESG-perpetuating investment firms, the Independent dropped this unqualified statement:

“Experts on this investment criteria say that it’s the other way around, and that Republicans are losing money for their constituents by unnecessarily narrowing the options of the financial institutions the state does business with.”

Such tactics are par for the course for a faction that views anyone outside that faction as being less than human, and thus any and all coercive, deceptive, forceful tactics can be used to advance the narrative that saves people from the American republic (which is a dog whistle for white supremacism).

The story itself is fantastic, from an American perspective, as the GOP, the Republican Party, is finally acting like an opposition party, in opposition to the anti-Americanists of the Democrat Party.

NEWSWATCH BLURB:

GOP leaders target ‘woke’ investments through state pension funds • Missouri Independent missouriindependent.com
Excerpt:

Republicans in state capitals across the country are targeting an investing concept known as environmental, social and corporate governance criteria, or ESG for short.

Describing these investment criteria as “woke” and “misguided activism,” GOP officials argue that by taking these factors into account when making investment choices, financial institutions are putting ideology ahead of making money.

Experts on this investment criteria say that it’s the other way around, and that Republicans are losing money for their constituents by unnecessarily narrowing the options of the financial institutions the state does business with.

Nineteen Republican state attorneys general wrote a letter to BlackRock, the world’s largest asset manager, which manages $10 trillion, according to Insider, in August. The letter accuses BlackRock of making decisions based on its alleged political agenda rather than the welfare of state pensions.

Read Full Article

GO DEEPER

MORE ON ESG Republicans

Jun 17, 2022 All indications suggest that if Republicans gain majorities in Congress this fall they will pursue hearings and legislation against ESG investing as part of an effort to push corporations and the financial sector away from so-called “woke” issues (e.g., climate change and sustainability, diversity and inclusion, and voting rights).Resistance to ESG—or at least what some lawmakers stylize …
The Chamber also released a report on “ESG Reporting Best Practices” in 2019. Some Republicans have criticized large asset managers that use ESG criteria in their investment practices for allegedly “boycotting” the fossil fuel industry. Several state treasurers and governors have taken actions against ESG in response.
NPR published a report Monday in their climate section that accused Republicans of opposing environmental, social, governance policies (ESG) in order to “score political points.” The article …

 

Jun 1, 2022On Friday, eight Republicans introduced the “No ESG at TSP Act.” The bill would prohibit the federal Thrift Savings Plan from “allowing participants to invest their retirement savings into …
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