How Environmentally Conscious Investing Became a Target of Conservatives – The New York Times

It’s been a widely accepted trend in financial circles for nearly two decades. But suddenly, Republicans have launched an assault on a philosophy that says that companies should be concerned with not just profits but also how their businesses affect the environment and society.More than $18 trillion is held in investment funds that follow the investing principle known as E.S.G. — shorthand for prioritizing environmental, social and governance factors — a strategy that has been adopted by major corporations around the globe.Now, Republicans around the country say Wall Street has taken a sharp left turn, attacking what they term “woke capitalism” and dragging businesses, their onetime allies, into the culture wars.

… As if to underscore the issue’s sudden visibility, former Vice President Mike Pence let loose on Twitter on Tuesday. “Disappointing that President Biden is putting E.S.G. and woke policies above hard-working Americans’ retirement accounts!” wrote Mr. Pence, a potential 2024 candidate for the White House. “We will keep fighting until we put a stop to E.S.G. once and for all!”

Source: How Environmentally Conscious Investing Became a Target of Conservatives – The New York Times