The secret money fueling the conservative anti-ESG push
When Florida Governor Ron DeSantis announced plans for the state to fight “woke CEOs” last summer, it was one step in a coordinated series of attacks against ESG—the environmental, social, and governance factors that mainstream investors now consider when evaluating the risks that companies face.
DeSantis said that Florida would stop state fund managers from considering ESG when investing the state’s money; this month, the state started pulling $2 billion of its money from BlackRock, the world’s largest investment firm, because of the firm’s climate and social policies. A handful of states, including Louisiana, Arkansas, and Missouri, are also pulling money out of BlackRock.
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