What is ESG?
The term “ESG” has become more prominent in the past few months. The “E” stands for energy, “S” for social (think of social woke causes and ideologies), and the “G” for governance (such as corporate diversity quotas). A global coalition of corporations, financial institutions, and political leaders are working together to impose ESG (environmental, social, and governance) standards on worldwide public policy. Let’s breakdown what each of these metrics means.
The biggest threat to America’s economy, jobs, and energy independence is the “E” in the ESG score. This coalition is determined to advance green energy sources by punishing, reducing, and restraining industries such as coal, agriculture, lumber, fossil fuels, oil and gas, agriculture, and any sector they deem that harms the environment. Financial institutions have already begun to refuse to give loans to some companies (such as coal) based on their “negative” impact on the environment. Additionally, individuals who invest in industries that are not considered “environmentally friendly” by progressive activists are given lower ESG scores, which makes it harder to borrow money. Some people call this a “Social Credit Score.” More than 400 banks worldwide have expressed their support for ESG and communicated plans to incorporate it into their lending and banking practices.
The “Social” aspect of the scoring system measures a company’s or individual’s commitment to social justice causes. These could include abortion, LGBTQ+, gun control, racial quotas, equity and inclusion, and so on. It can be any left-wing progressive cause as designated by ESG corporations and financial institutions.
And “Governance” is a metric to ensure companies, rather than using performance or competency standards, conform to corporate diversity quotas, such as hiring a certain percentage of employees based on age, sexual orientation, ethnicity, or whatever else, in order to ensure the company has the “right” ratios according to arbitrary standards set by financial institutions or progressive officials.
To learn more about ESG:
Take Action Now to Stop ESG
The best line of defense for stopping ESG is through state elected officials. YOU can make a difference by contacting them and urging them to take action by passing legislation to prevent the use of ESG in your state. Your state treasurer and state legislators have the power to protect critical industries, companies, and every individual’s freedom in your state. But the longer they wait to take action, the more intense the battle will become to stop this fast-moving global scheme to dismantle America’s free-market industries and influence her behavior by forcing compliance with arbitrary ESG left-wing standards.
Here’s what you can do right now to take action:
- Contact your State Treasurer and request that he/she divest State funds from financial institutions that use ESG standards against citizens or businesses. And ask them to support legislation, and work with legislators to stop the use of ESG.
- Contact your state legislators and urge them to pass model ESG legislation to protect the free-market and the freedoms of companies and individuals.
A Message for Your State Treasurer and Legislators
More than two dozen states across the country are already working on the passage of anti-ESG legislation or policies. Please make sure your state is one of them.
We encourage you to call or email your state legislators and treasurer ask them to pass and support ESG legislation.
These are the major components you should urge your state legislators and treasurer to include in legislation on this issue:
- Ensure state funds, including state pension funds, are not invested in companies that use ESG scores.
- States such as West Virginia and Texas have taken such action, led by Treasurer Riley Moore of WV and Comptroller Glenn Hegar of TX.
- The use of ESG forces individuals to support/invest in certain political ideologies, regardless of performance, and thus can lead to underperformance or loss of investments.
- State residents need to know if their investment advisors are utilizing ESG criteria so that they can determine whether funds are being mismanaged to the detriment of their portfolios.
- Halt state contracts with companies that use ESG scores, which hinders many state industries and workers.
- This can include companies or financial institutions that seek to reduce or eliminate industries such as oil, coal, natural gas, lumber, agriculture, mining, etc.
- Multiple states have already passed this type of legislation to protect their industries and workers.
- Prohibit the use of ESG scores in lending determinations
- State residents and companies should be approved for loans based on financial fitness and not because they do or don’t hold specific political beliefs or ideologies.
- Protect individuals and companies from ESG metrics being used to deny or obtain insurance.
Model legislation addressing this issue has been produced and will be introduced in states across the country in the 2023 session. Please ensure your state is one of those.
If your elected leaders are willing to take action on the ESG issue, or if they need to know more about it, direct them to reach out to WallBuilders ProFamily Legislative Network (PFLN) (profamily.com) at audrea@profamily.com.
PFLN will provide them with model legislation to combat ESG and protect the industries and individuals in your state. The WallBuilders’ ProFamily Legislative Network, in collaboration with our partners, has model legislation, experts to testify, and a robust network of legislators and leaders working on this issue across the country.
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