Good morning.
The anti-ESG campaign is gaining steam in the U.S. and will continue to do so as the 2024 presidential election approaches. And it’s not just presidential politics driving it. The American Legislative Exchange Council has been pushing a bill on state legislatures to combat ESG investors, and some 17 states have either considered or enacted a version of it. Anti-ESG groups are also pushing more shareholder initiatives this year.
But here’s the thing: I still can’t find a big company that is backing off its ESG plans. Earlier this week, I moderated a virtual call among members of the Fortune Impact Initiative, which included around 50 top executives at large companies who are responsible for ESG. Not one of them reported changing their ESG-related plans.
