It\u2019s been a widely accepted trend in financial circles for nearly two decades. But suddenly, Republicans have launched an assault on a philosophy that says that companies should be concerned with not just profits but also how their businesses affect the environment and society.<\/p>\n
More than $18 trillion is held in investment funds that follow the investing principle known as E.S.G. \u2014 shorthand for prioritizing environmental, social and governance factors \u2014 a strategy that has been adopted by major corporations around the globe.<\/p>\n
Now, Republicans around the country say Wall Street has taken a sharp left turn, attacking what they term \u201cwoke capitalism\u201d and dragging businesses, their onetime allies, into the culture wars.<\/p>\n
The rancor escalated on Tuesday as Republicans in Congress used their new majority in the House to vote by a margin of 216 to 204 to repeal a Department of Labor rule that allows retirement funds to consider climate change and other factors when choosing companies in which to invest. In the Senate, Republicans are lining up behind a similar effort and have been joined by Senator Joe Manchin III, Democrat of West Virginia.<\/p>\n
Read it all<\/a>.<\/p>\n (NYT front page) The Cultural and Partisan Divide — Kendall Harmon (@KendallHarmon6) March 1, 2023<\/a><\/p><\/blockquote>\n \n
Of Socially Conscious #Investing<\/a> https:\/\/t.co\/uLO6W0hcKW<\/a> #economy<\/a> #stockmarket<\/a> #ESG<\/a> #corporations<\/a> #ecology<\/a> #culture<\/a> #21stc<\/a><\/p>\n