{"id":1941213,"date":"2023-05-31T09:11:04","date_gmt":"2023-05-31T13:11:04","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/esg-advocates-say-anti-esg-movement-creating-concerns-and-challenges\/"},"modified":"2023-05-31T09:14:41","modified_gmt":"2023-05-31T13:14:41","slug":"esg-advocates-say-anti-esg-movement-creating-concerns-and-challenges","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/esg-advocates-say-anti-esg-movement-creating-concerns-and-challenges\/","title":{"rendered":"Anti-ESG movement causing concerns and challenges, say ESG advocates."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fesg-advocates-say-anti-esg-movement-creating-concerns-and-challenges%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1941213&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Republican-Led Movement Against ESG Investing Under Fire at Environmental Conference<\/h2>\n<div class=\"post_content\">\n<div class=\"aplayer_app\" data-source=\"https:\/\/vs1.youmaker.com\/assets\/2023\/0530\/a8582760-7379-4eee-aa88-42e88f61a1f8\/audio.mp3?length=3072429&#038;duration=256\"><\/div>\n<p>It\u2019s counterstrike time: the Republican-led movement against environmental, social and corporate governance (ESG) investing came under fire at a major environmental conference on May 30.<\/p>\n<blockquote><p>\u201cI don\u2019t think there\u2019s any chance that the anti-ESG movement will win,\u201d said Witold Henisz, a vice dean and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-administration-reportedly-seeks-to-hire-left-wing-activist-as-ai-policy-advisor\/\" title=\"Biden Administration Reportedly Seeks To Hire Left-Wing Activist As AI Policy Advisor\">faculty director<\/a> of the ESG Initiative at the University of Pennsylvania\u2019s Wharton School.<\/p><\/blockquote>\n<p>Yet, for now, \u201cthere is real concern and fear\u201d in the business world about defending ESG, according to Henisz.<\/p>\n<h3>Sustainability Week<\/h3>\n<p>Sustainability Week is being held by The Economist, a free-market, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/esg-advocates-say-anti-esg-movement-creating-concerns-and-challenges\/\" title=\"Anti-ESG movement causing concerns and challenges, say ESG advocates.\">socially liberal publication based<\/a> in London.<\/p>\n<p>Speakers at the three-day event include numerous Biden administration officials and other influential Democrats, alongside figures spanning the corporate world, the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/review-we-are-as-gods\/\" title=\"REVIEW: \u2018We Are As Gods\u2019\">environmental movement<\/a>, Hollywood, Silicon Valley, the Ivy League, climate philanthropy, high finance, and defense contracting.<\/p>\n<ul>\n<li>Biden adviser John Podesta<\/li>\n<li>Environmental Protection Agency director Michael Regan<\/li>\n<li>Sen. Jeff Merkley (D-Ore.)<\/li>\n<li>White House national climate adviser Ali Zaidi<\/li>\n<\/ul>\n<figure id=\"attachment_2252560\" style=\"width: 600px\" class=\"wp-caption aligncenter\">\n\t\t<a href=\"https:\/\/img.theepochtimes.com\/assets\/uploads\/2017\/05\/25\/GettyImages-612473498-1.jpg\"><br \/>\n\t\t\t<img decoding=\"async\" src=\"https:\/\/img.theepochtimes.com\/assets\/uploads\/2017\/05\/25\/GettyImages-612473498-1.jpg\" alt=\"John Podesta, chairman of the 2016 Hillary Clinton presidential campaign, looks on before the first vice presidential debate at Longwood University in Farmville, Va., on Oct. 4, 2016.\" \/><figcaption class=\"wp-caption-text\"><noscript><\/noscript><\/figcaption><\/a><br \/>\n\t<\/figure>\n<p>Henisz spoke about <a href=\"https:\/\/www.theepochtimes.com\/in-esg-debate-some-see-threat-to-livelihood-traditional-values_4973557.html?utm_source=Morningbrief&#038;src_src=Morningbrief&#038;utm_campaign=mb-2023-01-12&#038;src_cmp=mb-2023-01-12&#038;utm_medium=email&#038;est=1bUSc9f0L0IlZa3JGjh0ME98rkv6jDd%2FPUZtbALUb1HIAUVaatkWLhvMyIznv\">the anti-ESG push<\/a> on a panel with Carol Jeppesen, of the United Nations Principles for Responsible Investment (UNPRI), and Marco Taricco, of the activist investing firm Bluebell Capital Partners.<\/p>\n<p>John Ferguson, global lead for \u201cnew globalization\u201d with Economist Impact, moderated the talk.<\/p>\n<p>The pro-ESG professor\u2019s comments met with broad approval from his fellow speakers.<\/p>\n<blockquote><p>\u201cThis ESG backlash is creating some concerns and challenges, some very tangible ones,\u201d Jeppesen said.<\/p><\/blockquote>\n<p>She cited American states\u2019 <a href=\"https:\/\/www.theepochtimes.com\/in-depth-states-fight-esg-industry-despite-costs-and-long-odds_5230325.html?utm_source=open&#038;utm_medium=search\">boycotts<\/a> of financial institutions they believe to be undercutting oil, gas, and coal through ESG practices.<\/p>\n<p>The use of ESG by <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/as-energy-interests-clash-corporate-americas-green-dream-is-stuck-between-blackrock-and-a-hard-place\/\" title=\"As Energy Interests Clash, Corporate America\u2019s Green Dream Is Stuck Between BlackRock And A Hard Place\">pension fund managers<\/a> has also touched off conflict.<\/p>\n<p>Weeks after Biden vetoed a joint resolution intended to thwart his Labor Department ESG investing rule, Rep. Chip Roy (R-Texas) and other Republicans <a href=\"https:\/\/www.theepochtimes.com\/rep-roy-introduces-bill-to-bar-federal-investment-in-esg-retirement-funds_5284980.html?utm_source=open&#038;utm_medium=search\">introduced legislation<\/a> to keep federal money out of any ESG-influenced retirement funds.<\/p>\n<figure id=\"attachment_4378858\" style=\"width: 600px\" class=\"wp-caption aligncenter\">\n\t\t<a href=\"https:\/\/img.theepochtimes.com\/assets\/uploads\/2022\/04\/02\/Chip-Roy-1200x720.jpg\"><br \/>\n\t\t\t<img decoding=\"async\" src=\"https:\/\/img.theepochtimes.com\/assets\/uploads\/2022\/04\/02\/Chip-Roy-1200x720.jpg\" alt=\"Rep. Chip Roy (R-Texas) speaks at a press conference about the National Defense Authorization Bill at the U.S. Capitol in Washington on Sept. 22, 2021.\" \/><figcaption class=\"wp-caption-text\"><noscript><\/noscript><\/figcaption><\/a><br \/>\n\t<\/figure>\n<p>Although some ESG critics have <a href=\"https:\/\/www.theepochtimes.com\/as-esg-comes-under-scrutiny-skeptics-and-contrarians-rise-up_4545343.html\">put their money where their mouths are<\/a> by developing counter-ESG investing strategies, Jeppesen argued that ongoing anti-ESG efforts in many states \u201ccan only lead to suboptimal returns in portfolios and additional costs when they\u2019re issuing debt.\u201d<\/p>\n<p>\u201cIt\u2019s really the opposite, if you will, of the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/limbaugh-the-lefts-systemic-exploitation-of-race\/\" title=\"LIMBAUGH: The Left\u2019s Systemic Exploitation Of Race\">free market economy<\/a>,\u201d the UNPRI representative said.<\/p>\n<p>\u201cIn practice, irrespective of what some of the politicians attacking ESG are saying, the train has really left the station, and investors increasingly are understanding the material significance of issues like climate transition to their investment portfolios, and really to the overall economy at a systemic level as well,\u201d she added.<\/p>\n<p>Henisz described an example of what he called \u201cgreenhushing\u201d\u2014that is, companies\u2019 attempts to cover up their actions on climate and related areas: BlackRock\u2019s Larry Fink pushed back the release of his annual letter.<\/p>\n<p>The professor complained that the timing meant those at the World Economic Forum\u2019s January meeting in Davos couldn\u2019t read the message while gathered in the Swiss ski resort town.<\/p>\n<figure id=\"attachment_1944680\" style=\"width: 600px\" class=\"wp-caption aligncenter\">\n\t\t<a href=\"https:\/\/img.theepochtimes.com\/assets\/uploads\/2016\/01\/18\/AP_448163537751-1200x793.jpg\"><br \/>\n\t\t\t<img decoding=\"async\" src=\"https:\/\/img.theepochtimes.com\/assets\/uploads\/2016\/01\/18\/AP_448163537751-1200x793.jpg\" alt=\"The main entrance of the congress center where the World Economic Forum will take place later this week in Davos, Switzerland.\" \/><figcaption class=\"wp-caption-text\"><noscript><\/noscript><\/figcaption><\/a><br \/>\n\t<\/figure>\n<p>Yet, he and Taricco voiced frustration with the offerings from BlackRock that are labeled ESG.<\/p>\n<p>\u201cThere\u2019s very little in the way of ESG tilt, and as a result, they don\u2019t really deliver strong ESG performance,\u201d Taricco said.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Republican-led movement against ESG investing was criticized at an environmental conference on May 30. Witold Henisz, a faculty director of the ESG Initiative at the University of Pennsylvania, stated that he believes the movement will not succeed.<\/p>\n","protected":false},"author":152,"featured_media":1941214,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[4445,13070,5623,5533,5241,7003,5577],"class_list":["post-1941213","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times","tag-advocates","tag-anti-esg","tag-causing","tag-challenges","tag-concerns","tag-esg","tag-movement"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1941213","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/152"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1941213"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1941213\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1941214"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1941213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1941213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1941213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}