“Don’t talk about DEI [diversity, equity and inclusion]. Don’t talk about ESG. Those acronyms are meaningless to most Americans. You have to boil it down so that they understand what’s at stake.”
The investment practice has stoked outrage among conservatives who say ESG or environment, social and corporate governance investing is synonymous with “woke capitalism.” And yet, it gets scant attention from the growing field of 2024 GOP presidential candidates.“Anytime you’re talking about acronyms, you’re losing,” said longtime GOP strategist John Feehery, a former spokesman for House Speaker Dennis Hastert.
“We have enacted legislation to kneecap ESG in the state of Florida,” Mr. DeSantis said last month at a campaign event in Iowa. “No ESG in the pension, no social credit scores, and no woke banking to discriminate against conservatives, not in the state of Florida.
Under Mr. DeSantis, who trails GOP primary front-runner Donald Trump, Florida was among the slate of red states to divest from pro-ESG firms. Mr. Ramaswamy, who polls around 2% among GOP primary voters, is an anti-ESG crusader who runs an anti-ESG firm called Strive Asset Management. He’s made tackling what he calls “wokeism” a pillar of his candidacy.
“The entire ESG scheme is designed to funnel your retirement money to the maniacs on the radical left,” Mr. Trump said. “The rule we issued under my leadership was the first ESG ban anywhere in the world, and I’m delighted that Republicans in Congress and across the country have been waking up to this threat and following my lead.”Republican candidate and former Vice President Mike Pence at various times has also derided ESG.
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