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GOP directs culture war fury toward green investing trend – St George News

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GOP directs culture war fury toward green investing trend – St George News

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The Utah State Capitol is shown behind an oil refinery on Thursday, May 12, 2022, in Salt Lake City. A growing number of Republican-led states with economies that rely heavily on fossil fuels are pushing back against shifts in the financial industry to consider new factors such as environmental risk in their investment decisions | Associated Press photo by Rick Bowmer, St. George News

SALT LAKE CITY (AP) — Republicans are coming out swinging against Wall Street’s growing efforts to consider factors like long-term environmental risk in investment decisions, the latest indication the GOP is willing to damage its relationship with big business to score culture war points.

Many are targeting a concept known as ESG — environmental, social and governance — a sustainable investment trend sweeping the financial world. Red state officials deride it as politically correct and are trying to stop investors who contract with states from adopting it on any level.

For right-wing activists who previously brought criticisms of critical race theory, diversity, equity and inclusion and social emotional learning to the forefront, it’s the latest acronym-based source of outrage to find a home at rallies, in conservative media and in legislatures.

ESG has yet to take hold…

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