Republicans are targeting corporations for responsible investing strategies. The campaign to attack responsible investing is a coordinated effort funded by rightwing activist Leonard Leo and his network
MAGA Republicans in the pocket of BIG OIL want to control your investments
What is ESG?
ESG refers to companies engaging in responsible investing strategies to limit their impact on the environment and achieve positive social change.
MAGA Hypocrisy
Republican members of the House Oversight Committee hold millions of dollars in oil and gas assets, have taken millions more in the form of campaign contributions, and in some cases, show blatant hypocrisy by investing with firms committed to socially responsible investing.
Our latest report shows that:
- Despite pushing anti-ESG rhetoric, nine Republican members of House Oversight are invested in ESG-linked firms, totaling between $800k and $1.8 million in holdings.
- Republican House Oversight members have taken more than $4 million in campaign contributions from the oil and gas industry.
- Republicans on the Oversight Committee hold between $3.3 million and $22 million in oil and gas assets.
Who’s behind the attack on responsible investment strategies?
The coordinated MAGA attack on responsible investing is the brainchild of right-wing activist Leonard Leo. Consumers’ Research, the front group leading attacks on companies like BlackRock is funded by Leonard Leo’s dark money clearinghouse DonorsTrust.
What do the American people think?
The American people do not want Congress spending its time proposing bans or investigating responsible investing. A recent poll states only 8% of Americans think investigating how companies spend money on ESG issues should be a priority for Congress.
Instead, over 79% of American voters think that corporations have a responsibility to bring about social change on important issues facing society. Additionally, recent anti-responsible investing rhetoric has not had much impact on Republicans’ purchasing behavior or how they think about the role of companies in society. Only 36% of Republicans have boycotted a company because of a stance they took on an issue.
More on the cost of MAGA Republicans’ crusade:
About
Magabigoil.com is a project of the Congressional Integrity Project, a nonprofit committed to exposing the reality behind Republicans’ politically-motivated oversight and investigations targeting President Biden.