The latest talking point from those opposing ESG is a derisive term, “woke capital.” But it does not mean anything, and, as we have said repeatedly, no one has yet come up with an example of a decision based on politics or ESG that is not quantifiably financial.
Republicans are ready to take on “woke capital.” After losing elections for president and U.S. Senate, Georgia Republicans passed a series of restrictions that specifically targets the voting methods used disproportionately by Democratic constituencies during the unusual circumstances of the pandemic.
Whether those restrictions will have the desired effect of either placating the conservative base, which regards any election loss as definitionally fraudulent, or granting Republicans a partisan advantage at the polls remains unclear. But the law has already sparked a massive backlash, because most Americans rightfully believe that their right to vote should not be curtailed just because they choose not to vote Republican.
That backlash engulfed entities that do business in Georgia, with Major League Baseball pulling its All-Star Game, and Coca-Cola and Delta stating their opposition to the measure. Republicans have responded by, among other things, threatening to revoke MLB’s antitrust status and attacking these firms for, in the words of Senator Roger Wicker of Mississippi, “caving to the ‘woke’ left.”
Georgia Republicans are threatening to punish Delta by repealing a state tax credit for jet fuel. After a year of Republicans warning about the “woke” war on free speech, they are intent on using the power of the state to sanction speech they oppose.Don’t Buy the Conservative Rebellion Against Corporations – The Atlantic