The Daily

What Is E.S.G., and Why Are Republicans So Mad About It?

Mar 13, 2023

David Gelles, climate correspondent for The New York Times, dives into the heated world of E.S.G. investing, where environmental, social, and governance factors collide with political opinions. He discusses how E.S.G. has rapidly reshaped corporate responsibility and the backlash it faces from conservatives branding it as 'woke capitalism.' Gelles also explores Texas legislation targeting companies against fossil fuels, revealing the tensions between business practices and political agendas. This sparks a national debate on corporate influence and traditional values.

27:05

Creator website

Episode guests

David Gelles

AI Chapters

Episode notes

Intro

2min

The Rise of ESG: Redefining Corporate Responsibility

8min

The Backlash Against ESG: A Business and Political Challenge

5min

Texas vs. ESG: A National Debate

9min

Corporate Influence and GOP Dilemma

4min

Federal Intervention in Banking: A Response to Crisis

3min

The principle behind E.S.G. is that investors should look beyond just whether a company can make a profit and take into account other factors, such as its environmental impact and action on social issues.

But critics of that investment strategy, mostly Republicans, say that Wall Street has taken a sharp left turn, attacking what they term “woke capitalism.”

Guest: David Gelles, a climate correspondent for The New York Times.

Background reading:

How did environmentally conscious investing became a target of conservatives?
Republicans are likely to keep making E.S.G. a political punching bag.

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.

Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.