The “Woke Capitalism” Movement Has Created a Climate Tightrope
Outlet: The Magazine of the Sierra Club
ESG has landed in the crosshairs of conservative organizations, networks, politicians, and investors, while evidence is mounting that anti-ESG legislation could lose, not grow, investors’ money.
An economist and finance professor from the Wharton School of the University of Pennsylvania set out to study the impact of the Texas anti-ESG rules that went into effect in September 2021, and found, during the first eight months the law had been in effect, the state of Texas paid at least $300 million in extra interest on $32 billion in state bonds.