A conservative group leading the charge against “woke capitalism” is giving congressional leaders a detailed roadmap for dismantling the ESG movement, Axios‘ Hans Nichols reports.
Why it matters: A new report from Consumers’ Research provides a lengthy list of specific questions for House Republicans at public hearings to establish fact patterns for litigation and to seek to show asset managers are forsaking fiduciary duty in the name of political goals.
Yes, but: Asset managers like BlackRock and State Street Global Advisors say they’re are responding to investor demand and highlight that many ESG offerings, like funds that focus on energy transition, have performed well.