The former vice president called for states such as Texas to “rein in” the push for employee pension funds to use environmental, social and governance principles in investing.
Elon Musk says ESG investments are ‘the devil incarnate.’ Andrew Steel says they’re just misunderstood.Finance was always meant to facilitate investment and spur economic growth that benefits the entire U.S., Pence said. But President Biden and government regulators are “weaponizing the financial system to do the exact opposite,” including through “capricious new ESG regulations that allow left-wing radicals to destroy American energy producers from within.
But the notion that such campaigns hurt companies is unproven, especially in Exxon’s case. Engine No. 1’s success came from persuading large shareholders that an improved climate strategy would also help the oil giant’s financial returns.
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