Republican state treasurers are touting a red wave, not about their party’s midterm election results, but about taking on what they deem to be “woke” corporate policies held by Wall Street investment firms.
GOP-led states that have divested public funds like pension plans from investment companies gathered in the nation’s capital on Monday at a conference of Republican state financial officers. They promoted taking on banks and investors whom they accuse of prioritizing liberal policies like climate change rather than investors’ returns by incorporating environmental risks in their investments.
Republicans argue that combating environmental, social and governance issues, or ESG, at the state level has been a win-win for constituent investors and the party.