The @SECGov has announced new regulations that will require publicly traded companies to disclose more information about their climate impact, a move criticized by some as catering to the climate lobby and imposing unnecessary burdens on companies amid declining activist climate investments. This development comes amid a broader debate over the role of environmental, social, and governance (ESG) criteria in investing, with significant pushback from various quarters. Critics argue that the focus on ESG, exemplified by cases like ExxonMobil and Starbucks, is leading to poor investment performance and increasing political costs, outweighing the benefits. Additionally, there's been a noticeable shift away from ESG and Diversity, Equity, and Inclusion (DEI) initiatives by big businesses as political controversies surrounding these concepts grow, especially in an election year. Meanwhile, reports highlight that despite progress since the Civil Rights Act, disparities for Black Americans in economic, educational, and voting rights persist, with the advances described as unsatisfactory. The backlash against efforts to advance racial progress, such as affirmative action and DEI policies, is also noted, reflecting a broader societal debate on these issues, with professional investors unable to do their jobs properly due to the politicization of global warming.
When global warming is politicized, professional investors are unable to do their jobs properly. That’s the key message from the world’s biggest investor coalition on climate change after several of its largest members left the group https://t.co/9vTyCXoPrW
Schools, companies and individuals have been seeking solutions to become more racially and socially inclusive. But those efforts have invited a backlash, with some conservatives countering DEI efforts in several industries. https://t.co/UNQZMeKqh4
The report cites legal challenges to the Civil Rights Act of 1964 and backlash to efforts meant to advance racial progress such as affirmative action and diversity, equity and inclusion policies. https://t.co/R0SA48mf22
Black Americans' social, economic, and political advances in the 60 years since the enactment of major civil rights legislation have been unsatisfactory, according to a new annual study on racial progress. https://t.co/aSln4E82IZ
My prediction: #ESG advocates and their management consultant and political enablers will resist this trend. But: ▪️Market sentiment is turning against ESG b/c of sustained poor performance; and ▪️ESG’s political costs are now beginning to outweigh the benefits. https://t.co/ub8BLZzSdH
It makes no sense for the @SECGov to impose onerous climate disclosures on companies just as activist climate investments are rapidly losing steam. (1/2) https://t.co/SLlYUw45nA
Black Americans have made significant advancements over the 60 years since the passage of the Civil Rights Act, but economic, educational, and voting rights disparities persist, according to a report. https://t.co/gKAisHnSY6 https://t.co/Uj7bPeZMsz
Big businesses keep backing away from "ESG" and "DEI" as the political heat around these buzzwords mount in an election year. https://t.co/LYV7e253AJ
‘Activist investing is no longer the preserve of hedge-fund sharks. ExxonMobil and Starbucks are victims of the latest trend.’ @TheEconomist https://t.co/6IQJLt2cwh
The @SECGov wants to turn investors into activists. They just announced they will vote to place new unnecessary burdens on publicly traded companies to appease the climate lobby.