Tuesday, May 16, 2023

The ESG Proxy Vote Ranking - WSJ

If Americans want to make investment decisions using environmental, social and governance factors, that’s fair enough. It’s a free country. The problem is having a hidden agenda that applies to everybody else. A new analysis says that, even in non-ESG investment vehicles, many asset managers proxy vote in favor of woke shareholder proposals to do racial audits or strangle fossil fuels.

The table nearby shows the score. It’s from a report by the Committee to Unleash Prosperity, which examined “4,814 non-ESG branded funds” to see how proxy votes were cast on “50 of the most extreme ESG-oriented shareholder proposals from 2022.” One proposal wanted Home Depot to perform a “racial equity audit” to identify “adverse impacts on nonwhite stakeholders.” Another called on Costco to set climate targets for “Scope 3” emissions, including due to “land use change” and “deforestation.” Neither has anything to do with the bottom line.

via www.wsj.com

Darn tootin'.


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