WASHINGTON–Today, Heritage Action and the Heritage Foundation released a joint statement announcing the launch of a new digital campaign, “ESG Hurts,” which exposes the radical agenda of the “Environmental, Social, and Governance” movement. The campaign is housed at www.ESGhurts.com. The campaign launches with a 60-second digital ad highlighting how ESG policies are destroying America’s small businesses.  

Specifically, the campaign provides background information on the dangers of ESG through written material, graphics, and a commercial. It also includes model state legislation for state lawmakers looking to protect state pensions, investments, and contracts. Currently, Texas, Oklahoma, West Virginia, Kentucky, and Tennessee have laws on the books ensuring their state’s contracts or investments do not support ESG policies that run counter to their values and jobs. 

 
Andy Puzder, former CKE Restaurants CEO and visiting fellow at The Heritage Foundation, released the statement:  

“ESG investing is an effort by the left to reorient modern corporations so that they focus on advancing a radical leftist agenda rather than simply doing what makes good business sense, looking out for their shareholders, and staying out of charged political debates. It is a direct assault on the heart and soul of our free-market economy, which has produced more wealth, created more opportunity, and lifted more people out of poverty than any economic system in history.  

 

“The cornerstone of ESG investing is using other peoples’ money to advance this leftist political agenda – and forcing corporate management to elevate that agenda over their obligations to shareholders. Rather than encouraging companies to focus on generating returns for investors by providing the best quality products and services at the best price, ESG incentivizes the politicization of every aspect of a company’s business. It is socialism in sheep’s clothing, a tool to empower corporate and government elites to use the American private sector as a means to avoid the inconvenience and messiness they see in our representative democracy and our free-market economy – with “woke” CEOs all too willing to go along. Most Americans are unaware of what’s happening or how to fight back. That must end. We must fight back against this Marxist “woke” ideology that would turn our economy into a battlefield in the culture war.” 

Heritage Action Executive Director Jessica Anderson said: 

“American families and workers should not be forced to abide by the left’s radical opinions on gender ideology, climate change, and abortion to make a living. The left’s push for ESG policies is a blatant attempt to push “woke” policies onto private businesses, punish certain industries like oil and gas, and punish small businesses to help big corporations. 

 

“ESG policies will hurt retirees whose money is moved into failing ‘green’ businesses, small business owners excluded from lending programs for their industry or even the color of their skin, oil and gas workers whose jobs are moved offshore, and every American. The United States leads the world in innovation and economic opportunity because of the policies we put in place to empower our businesses and individuals. If we allow the left to use ESG to turn businesses into social justice tools and shareholder reports into social credit scores, our economy will suffer and our adversaries like China will succeed." 

 

“Heritage’s ‘ESG Hurts’ campaign will educate American families and businesses on the dangers of ESG and provide a roadmap to activists to call on lawmakers to act. Heritage Action is committed to pushing back against these dangerous policies by helping states protect state pensions and investments, protect state contracts, and support executive offers. Americans want their rights restored and their freedoms protected, and deserve policies that put their interests ahead of the woke left’s political agenda.” 
 

FOR MORE: 

• The Heritage Foundation: What Is Wrong With “ESG” Wokeism 

• The Heritage Foundation: Why Corporate Environmental, Social, and Governance Enforcement Is Self-Reinforcing Scam