Opinion by Paul Waldman: Everything Republicans are saying about ESG investing is bogus — and so is the idea that they've undergone an ideological shift.
in recent years; there arein ESG funds in the United States and abroad. As the financial risks of climate change have become more apparent, and companies and investment firms have made decisions with those risks in mind, Republicans have made opposition to ESG investing a culture-war crusade.from 19 GOP governors organized by Florida Gov. Ron DeSantis slammed ESG as “a direct threat to the American economy” and “our way of life” that turns investment decisions over to “the woke mob.
So the Republican states that are at war with ESG are depriving themselves of tools that might produce better returns for their state pensions, says Tensie Whelan, director of New York University’s Stern Center for Sustainable Business. States, she says, “are applying very sweeping approaches which are going to end up costing their pension holders a lot of money and just don’t make sense.
But Republicans aren’t satisfied with the market. Instead, says Whelan, they have chosen to “rile people up who’ve never even heard of ESG in the first place,” even if it violates the near-religious faith in economic liberty they used to profess.
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