ESG is an acronym that stands for Environmental, Social, and Governance. One application of ESG criteria is a measurement system for private corporations and even private citizens that produces a score. Invariably, these systems force the preferred policies of the radical left on issues like climate change and social policy. By capturing capital and corporate America, the left can implement its preferred agenda without ever going through a legislature or the courts.
Still, understanding how ESGs can negatively affect individuals can be hard to track. The impact is evident in some cases where banks and payment services cut off an individual or group. However, how ESG investing and policies impact every American at the grocery store and the gas pump is less obvious. So the State Financial Officers Foundation (SFOF) announced a new campaign titled “Our Money, Our Values” to educate the American public on the dangers of ESGs.
The “Our Money, Our Values” campaign was officially launched during the SFOF National Meeting in Washington, D.C. It builds on the work of state financial officers from across the nation who have taken significant actions to prevent ESG from harming the citizens of their respective states. To date, state treasurers and attorneys general have focused on the effects of ESG investing on state pension funds and banking. ESG investing prioritizes climate change and other social issues, not maximizing investors’ returns.
“As SFOF members continue to fight for their constituents, it’s important the American people have an honest understanding of what ESG really is,” said SFOF CEO Derek Kreifels. “Our money should not be used to push policies that don’t align with our values and have nothing to do with maximizing the value of our retirements and pensions. We are launching ‘Our Money Our Values’ to help educate Americans everywhere who are being used by massive corporations like BlackRock, Vanguard, and StateStreet.”
Related: The Fight Against ESGs in the U.S. Just Got a New Champion
Because state pension boards and state treasurers carry a fiduciary responsibility to pension holders and citizens, some have elected to remove money from wealth management firms and banks that ascribe to an ESG philosophy. West Virginia, Louisiana, Kentucky, South Carolina, Texas, Florida, Utah, and Arkansas have all taken some action to prevent state funds from passing through wealth managers or banks that prioritize climate and social policy in investment and business decision-making.
“This impacts every single American. Much of our pension dollars are now subjected to ESG standards above financial security,” said Louisiana Treasurer John Schroder. “ESG has been weaponized to ostracize and destroy those that don’t fall in line with the progressive political agenda, and Americans deserve to know what they’re dealing with.”
As part of the campaign, SFOF debuted a new website that provides resources to everyday Americans, so they can learn the truth about ESG and how it impacts their pocketbooks and livelihoods. Some of the first to act in addressing ESG investing were states like Texas and West Virginia, where fossil fuels power the economy as well as the grid. The impacts of the “E” alone would be felt in the state’s employment market, economy, and overall prosperity. It makes little sense for pensioner dollars and state funds to contribute to their own demise.
The campaign also illustrates how ESG investing and policy push a progressive agenda that often contradicts American values. To ensure as many Americans see the websites as possible, SFOF will begin a six-figure digital marketing effort. “Regardless of your politics, those in power using your money to pursue their own political agenda should be of major concern, and this is why we want to hear from you,” said Kreifels. “If you’ve been impacted by ESG, you can visit our website, share your story, and we may be able to help.”
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