From Congress to the statehouse, Republicans are fighting a growing movement to force investments into funds that make decisions based on environmental, social, governance, or political criteria.
The Environmental Social Governance (ESG) movement has prompted the Securities and Exchange Commission to propose a rule requiring companies to report emissions and other climate risk data, while public pension funds like the Thrift Savings Plan are discussing using ESG metrics to govern investment decisions.
The GOP pushback has intensified in recent days.
Rep. Chip Roy (R-Texas) led a group of eight Republicans on Friday proposing the "No ESG at TSP Act" that would prevent participants in the federal Thrift Savings Plan (TSP) from investing monies in ESG funds.
"ESG investing is a woke scam," Roy said. "It restricts the free flow of capital, undermines U.S. energy freedom to the benefit of our enemies, and advances woke racial and gender ideologies intent on dividing the republic.
"The upcoming changes to TSP would allow billions of taxpayer dollars to serve these ends. The federal government shouldn't have any part in this radical nonsense, and especially shouldn't be using your money to do it."
https://justthenews.com/politics-policy/republicans-launch-counter-offensive-against-latest-woke-corpor