The environmental, social, and governance – or ESG – movement isn’t so hot anymore, based on recent reports that show major banks pulling out of the anti-capitalist climate program.
The latest to leave Climate Action 100 plus are JP Morgan and State Street Global Advisors. BlackRock is also reducing its involvement with the investment program. This means a $14 trillion loss for the quasi-climate activist movement.
The controversial ESG policy activists that set out to keep large financial corporations accountable to climate control initiatives have also pushed banks to divest from conservative customers, especially if the clients were Christian. They also pressured banks and companies to refrain from business ties with pro-life states.
But due to counterpressure from Republicans, some of these big companies are rethinking, and in some cases leaving, their leftist business model because it’s simply not worth it for them.