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Heritage Explains

The ESG Pushback

Heritage Explains

Heritage Podcast Network

Education

4.7847 Ratings

🗓️ 16 May 2022

⏱️ 21 minutes

🧾️ Download transcript

Summary

Under the umbrella of Environmental, Social, and Governance (ESG) activism, corporations have become unimaginably woke. They are weaponizing capital, and it is promoting nearly every left-wing policy issue they care about. So what does it mean to say the Left is weaponizing capital, what are the implications? On this episode Heritage Visiting Fellow (and former CEO of CKE Restaurants) Andy Puzder joins us to examine the consequences of ESG activism, what it’s doing to American culture/401k’s, and the awesome pushback that's happening!


Show Notes

Prior Episode of Heritage Explains Covering "Woke Capitalism" - Andy Olivastro

Larry Fink’s Crusade Runs Into Resistance - Andy Puzder and Steve Soukup




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Transcript

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0:00.0

From the Heritage Foundation, I'm Tim Desher, and this is Heritage Explains.

0:30.8

If you're a shareowner of a corporation, you literally own the company.

0:38.7

It's your property in the form of capital, which has made the production of useful products and services possible, and it's now available in the marketplace for consumers.

0:43.8

That capital is now being diverted to causes and purposes that you never intended to support,

0:50.1

but it's all because of this great reset that there are people that believe so much about how things should be done,

0:58.8

that they're using your money to advance their own initiatives. That's Heritage VP Andy Lovastro on an Explains episode last year discussing how the left is using

1:05.8

boardrooms all around the world to impose woke policies on us without passing laws.

1:13.6

I'm sure we've all heard terms like Wokea Cola and Go Woke, go broke, to describe traditional

1:21.6

American companies shifting to the left. Now, we remember the Major League Baseball All-Star game

1:30.2

moving from Georgia to Colorado to protest a voting law.

1:35.0

Or how about anti-fossil fuel activists gaining seats

1:38.6

on major energy company boards?

1:41.9

And of course, the massive censorship of conservatives happening throughout

1:45.8

big tech. This activism slash ideology is commonly referred to as environmental, social, and

1:55.0

governance, or ESG. I'm sure you've heard of it.

2:02.6

Man, it all just seems so helpless.

2:05.6

We're getting fed left-wing ideology from every institution in our culture.

2:11.6

Where is the pushback?

2:14.6

Well, here's an answer on Fox News.

2:25.6

Strive Asset Management launched yesterday with the mission to remove politics from business, and this is your company.

2:32.4

That's right. So I've been talking about these issues for a couple of years. I decided it was time to actually translate this into action.

2:37.9

Because one of the problems in this country, Steve, is that the three largest asset managers in the world, that's Black Rock, State Street, and Vanguard, these three firms basically control nearly every public company

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