ESG investing, or environment, social and governance investing, has been dubbed 'woke' investing by its opponents. Andy Puzder, a conservative commentator, calls it 'more insidious than communism or the Nazis.'
Late last year, conservative activists met in Washington, D.C. to stop what they consider “woke” investing. It's called ESG investing, which stands for environment, social and governance investing.
In many cases, oil and gas companies have testified in support of the bills. This movement in statehouses worries University of California, Davis law professor Amelia Miazad, who studies ESG investing. She argues these laws force money managers to put people’s money for retirement or college education into fossil fuel companies that are risky in the long term.
Puzder and his allies want to ban investment firms from factoring climate change into their decisions. And for Coleman at Documented, it’s important to reveal that process and the interest groups behind it."These groups, they hide all their funding. They’re communicating directly with public officials, but we can’t actually access that information a lot of the time,” Coleman says.
"There are resources there as well as model legislation and that really exists to be another hub for you to access and say, ‘Okay, I need social media graphics, I need what's the latest op-ed that was drafted on this issue,'" she said at the meeting. BlackRock CEO Larry Fink has said that critics have their facts wrong. He says BlackRock sees climate change as a risk, but he says it’s not boycotting oil and gas companies, as some allege.
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