Companies don't want to talk about their environmental, social and governance goals anymore, experts inPromoting ESG policies was once an easy layup to score good press — and theoretically move toward bettering society — but now it's a way to court controversy, the ire of politicians, and attention fromA dozen financial companies, including BlackRock, Blackstone and KKR, now list anti-ESG efforts as a risk in their annual reports, theAnti-ESG forces are in full swing this proxy season —...
Investors have filed 68 anti-ESG proposals this year to date — compared to 45 in all of 2022, per data from the Sustainable Investments Institute, a nonprofit. About one-third of the anti-ESG proposals this year are focused on diversity — asking companies, including Apple, JPMorgan, Coca-Cola and McDonald's, to report on the "risks" that their anti-discrimination or racial justice efforts pose to their business.
Two proposals ask companies to avoid public policy positions unless there's a business justification. And a handful are asking public companies to report the risks"Companies should be prepared to deal with ESG backlash," the Conference Board warned in its recent proxy season preview.Historically, anti-ESG proposals like these have failed.
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