ESG Funds Under Attack: Why Republicans Are Targeting Socially Responsible Investing

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Republicans are on a “crusade” against responsible investing, says Andrew Behar, CEO of the nonprofit group As You Sow that promotes corporate responsibility through shareholder advocacy. His group was subpoenaed to testify before the House Judiciary Committee this week as Republicans probe whether investments that take into account environmental, social and governance (ESG) concerns violate antitrust laws. Republicans have introduced bills in dozens of states across the U.S. to limit state bodies from working with banks and other financial firms that take things like climate change into consideration in their investments. ESG is “a framework for assessing risk,” Behar says. “Basic good business says you want to assess and address risk, and that’s what they’re trying to suppress.”
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[@vivavasquez]

genocide is not a good investment !

[@zxbc1]

GOP think it is!

[@Angie-be8zz]

This makes my blood boil.

[@hn6187]

Why does this guy think he needs to justify himself. Reminds me how scientists used to get treated by Catholic church

[@ChannelMath]

exactly. ESG funds ARE about charity, contrary to this Behar guy's bizarre attempt to put them firmly inside the standard capitalist greed model. There's a reason ESG funds perform worse than traditional returns-only focused funds, and it's because they don't only focus on returns, but also on doing good (charity)

[@cev12]

This is terrible. Try as I might, I don't understand how some people have zero conscience and just don't care who and what they harm.

[@ChannelMath]

They are suppressing their conscience with Randian philosophy that appeals to their egos and selfishness. This cognitive dissonance (especially with the Christian philosophy), causes them to lash out at people who express charitable intentions

[@cev12]

​@@ChannelMath Maybe! Has to suck to be them though... Can you imagine living with all those levels of dishonesty, self-deception, suppressed conscience, and knowing (consciously or not) that you've caused so very much harm? Must make them feel terrible about themselves deep down. I wonder if conscience is a genetic trait though. Varied expression of the gene would explain a lot. Psychopaths (APD), reportedly, just cannot feel remorse. And I think that psychology has vastly underestimated the prevalence of psychopathy. Good news is that compassion can be learnt, but who's teaching it, especially in a merciless and ruthless capitalistic society...

[@reubenhandel210]

Who are they harming by opposing discrimination?

[@cev12]

@@reubenhandel210 "Discrimination," lmao. Nice try. Investors, the government, and the people have a right to not have their health and wellbeing impinged by polluting/etc. corporations and the wealthy.

[@user-xd4bc4ls8i]

We need to understand that we cannot keep all our eggs in one basket. Did we not learn from the oil crisis in the past.

[@dakitz]

How is this even legal

[@JaredMichaelBynum]

we have the best legal system money can buy.

[@ChannelMath]

we don't know if it is. it's in court now

[@pajeetsingh]

Idea that two parties need to fight about policies is absurd when it relates to just honesty.

[@ChannelMath]

explain?

[@pajeetsingh]

Guns bad. Guns good. Immigration bad. Immigration good. LGBT bad. LGBT good. There certainly isn't any democracy left in this world. Everything is theater for constant political conflicts and people orchestrating these are real powers. @@ChannelMath

[@bojanb4764]

ESG sounds good in theory, but is not so good in practice. It's only good for business because it allows them to virtue-signal.

[@romanski5811]

Stop virtue signalling. Stop being so self righteous about seeing through ESG.

[@gttv1832]

Dear U.S. government, my dream is to become an American farmer. If I were supported, I could be useful to European society.

[@movingtargets7833]

wtf

[@rawlsrules]

I wish he had given more concrete information instead of trying to appeal to "business", "capitalists", "the market", etc.

[@DaxVJacobson]

Tesla was given an ESG score of 37 out of 100, while Philip Morris was scored an 84, Tesla also scored lower than fossil fuel companies like Shell and Exxon

[@ChannelMath]

its about the S and G, I bet. Mostly the S as Musk treats worker like shit

[@VoyagesDuSpectateur]

Child labour in Musk's cobalt mines probably isn't helping his S score.

[@vivavasquez]

free Gaza !

[@targgthewise2892]

Hahhahahah it is being freed as we speak!

[@garyrose0q507]

I like it

[@Isaac.Ramirez]

ah look, a river!

[@danielgolarz674]

Amy please talk about the out of control OCCUPATIONAL LICENSING for k-12 teachers that's why we have teacher shortages I'm the author of EIGHT DAYS IN AN INNER CITY SCHOOL

[@emolivera]

Non-profit>ESG>profit maximization. I mean you don’t have to be an expert in semantics and logic to know something is flawed. It’s a different unit for the same metric that disfavors…

[@ChannelMath]

yes, ESG funds perform worse. Is that your point?

[@Reeve-vf6zk]

Esg is evil tho...

[@Wonderwomanwonderwhy]

Everything sounds wrong and backwards 😂😂😂 L.H.O.O.Q ❤

[@thehut2016]

ESG is a control mechanism. A layer of political regulation. The guest says anti esg is anti capitalist. Capitalism is based upon maximizing profit for shareholders and employees. ESG is forced regulation.

[@terryhollands2794]

Good comment.

[@cantonold7014]

It is far worse. It is fascist political correctness.

[@zxbc1]

Quite the contrary. The anti ESG forces are the control mechanism aimed to protect big businesses against grassroot effort to fight them. It is indeed anti capitalist in the sense that anti ESG is effectively censorship on expression in the form of investment. It is literally censoring how you can choose to invest and suppressing the freedom to choose by eliminating choices.

[@cantonold7014]

@@CraigDelist SG are commissars. SImple as that. Social responsibility has nothing to do with it. They are purposely hiring incompetant compliant yes men under the guise of social justice. It is a fraud.

[@zxbc1]

Anti-ESG is actually the control mechanism that's coming from monopolies to curb participation from common folk for their own interest. It's so very blatant because the effort to smear ESG comes from the GOP members with the most big corporate sponsors. It's plainly obvious.

[@user-vh5kf4ll1r]

Enough of this government and its stupidity. Stop paying taxes. You have an electric bill

[@ChannelMath]

I know! why are they trying to outlaw ESG? just leave people alone, sheesh

[@EdSurridge]

Bing AI does cover this indirect killing

[@woodchipgardens9084]

California has been Wet and Cold for 2 years like Oregon weather.

[@deadmanprodinc]

Don't cloud the issue with a short term weather report, underscore your climate change position. Just say the words and see what kind of response you get.

[@woodchipgardens9084]

@@deadmanprodinc this is common occurances and your confusing that with scam papers.

[@woodchipgardens9084]

@@deadmanprodinc California, Texas and Australia droughts have ended, how long before fear mongers claim drought responsibility again regarding the cyclical events motivated by Volcanic activity.

[@woodchipgardens9084]

@@deadmanprodinc California, Texas and Australia droughts have ended, how long before fear mongers claim drought responsibility again regarding the cyclical events motivated by Volcanic activit

[@deadmanprodinc]

​@@woodchipgardens9084.....I am not confused about anything. Your original comment is a very watered down climate change denial. You have phrased it that way because your afraid [emphasis added] to clearly state your position. And that is because you are afraid of starting something you cannot rationally defend.

[@user-zz9gn2dc3l]

ESG and similarly named initiatives are nothing else but a social credit score for companies. Totalitarianism in action.

[@zxbc1]

Lmao, not even close. This is a grassroot effort to reign in big money and not at all government sanctioned control. Anyone smearing ESG is probably paid for by big corporations lobbies.

[@ChannelMath]

Totalitarianism is when the government forces people to do things, like when Republicans force people NOT to do ESG, or when they force mothers to carry to term, or when they force unions to bargain a certain way. It's so bizarre when conservatives speak of private companies doing whatever they want as "Totalitarianism". It's like you don't understand what is part of the government and what isn't. Medicare is part of the government. Tech companies are not. The Fed is part of the government. Defense companies are not.

[@metroidsuperfan17]

If a firm's business model is at risk from increasing climate regulations, strikes from poor labour management, or short-term irresponsible management by executives, investors will want to know because it effects their bottom line in the long-run.

[@larryschwartzman6515]

The firefighters, and every other person impacted by all of these really awful legislators, need to band together with a common purpose… get the anti-environmental reps out of office… Jim Jordan is a cancer on the House of Representatives… Ohio can do better!

[@user-zz9gn2dc3l]

Net zero is a scam based on Lies.

[@larryschwartzman6515]

@@user-zz9gn2dc3l Is that Democracy Now? First amendment much?

[@mackette54]

ESG= get rid of it

[@mirvanrobertson5955nmssss]

0:03

[@greedyyawgoo5635]

ESG is the West version of Social Credit of China...

[@zxbc1]

No it's not. Chinese social credit is initiated by the government. ESG is fighting crony capitalism that's controlling the government. Completely opposites.

[@ankundamwebembezi6358]

​@@zxbc1 it is

[@zxbc1]

@@ankundamwebembezi6358 Nope. Anti-ESG movement is actually censorship and monopoly. The very idea of socially responsible investing is pro-capitalist as it encourages participation of more common folk in corporate investment. Suppressing it is actually quite anti-Capitalist and oligarchic. That's why it's coming from the anti-Capitalist GOP wing, the same people who are trying to ban companies like Tiktok.

[@ChannelMath]

you are so lost. do you not know what a government is? Or are you against any private organization keeping track of who they like? (not to mention: one is about humans, the other is about corporations)

[@zxbc1]

@@ChannelMath I think the OP is deleting posts that are arguing against him. I have two of my posts deleted. Don't bother with this troll.

[@ernesthofmeister3054]

Hey Larry David, are you going to return the money you made through the BTK crypto swindle or do just certain people have to go to jail while another certain few get rich?

[@Ann-qz7bl.]

Let's Make America Great Again😊

[@Ann-qz7bl.]

As Ai takes over this Year A better Gobal Nation Suvellance Capitalism

[@ChannelMath]

by not arbitrarily regulating a private business (ESG) just because you disagree with their ideas! Less GOP = more freedom

[@reubenhandel210]

Amy and Black Rock sitting in a tree...

[@AHMADSAEED-rx5bp]

Free Jammu and Kashmir Insha Allah Jammu and Kashmir Issue exists on the UNO charter today also

[@ghostfifth]

Esg is classest The rich elite get to tell us little guys what rules to follow or were out of the club...

[@ChannelMath]

who's telling anyone to do anything except these Republicans forcing people not to do ESG?

[@ghostfifth]

@@ChannelMath esg literally makes you do things... What is esg?

[@ghostfifth]

@@ChannelMath who decides what gets you points under esg? How do you get a higher esg score? The answers are, the elite, and you get a higher score by doing what the elite tell you to do...

[@TheKqkk]

ESG is bad mkay?!

[@meanderinoranges]

ESG is ruining this country. Businesses need to be businesses, not socially coercive tools.

[@Blackronin357]

Yeah cuz businesses haven't hurt communities by having the most anti-consumer or anti-environmental policies during the industrial age and on.

[@meanderinoranges]

@@Blackronin357 I like how you consider ESG to be a punishment on businesses. 😂

[@2BEAR-hn6om]

​@meanderinoranges if you truly believe ESG is ruining this country, you have a very limited grasp on how to run a business and most likely no experience.

[@meanderinoranges]

@@2BEAR-hn6om I know exactly what it takes to run a business. I own one. And I avoid working with all predatory and coercive groups.

[@dakitz]

Your delusional af 🤣

[@woodchipgardens9084]

This guy just lied about Texas drought, look up weather reports and they say drought is over this year.

[@howardmctroy3303]

Sounds similar to DEI...Which I regard as worthless.

[@ArleeStarr]

I would expect an incel to be in favor of it.

[@howardmctroy3303]

Why would you expect that?

[@ingehanson]

It's not worthless to the elites. The idea is to totally control the masses. It's the club of the billionaires, bankers, WEF members and elite politicians. Part of the masses are brainwashed to support their schemes and once they get full control those brainwashed masses are the first ones gotten rid of. Hitler used the brownshirts and then got rid of them. At the moment Blacks are being shoved to the end of the line, being replaced with other nationalities and religions from across the world. Latinos are by far outnumbering blacks adn it is continuing, yet too many of them still do not see it.

[@thehut2016]

DEI definitely part of ESG. The score is based partially on who is represented in upper management, diversity, not based upon who is most qualified to hold the position.

[@carriew8566]

Team BLUE needs to LISTEN to Team RED'S concerns & critiques, ESPECIALLY on points related to Bankers.

[@NoThatRyan]

If by Team Red, you mean Republicans, they have no interest in holding bankers accountable.

[@nicolarosini6458]

They're both team fascism. Any ostensible separation between parties is just propaganda.

[@matthewingerson]

Vote RW-extremist team RED, for the fast, open-road to fascism. Vote moderate-RW team BLUE for the slow, disguised-road to fascism. RW-politics are poisoning the world, & you're helping. Congratulations... 🥳 ...you're exactly the kind of working-class dupe that the wealthy-class-RWers designed you to be. 🙄