Combatting ESG Backlash
Last week saw the planet register its hottest day since records began—for the third time in just four days.
Despite this and other mounting evidence of climate impacts, ESG backlash is growing, with certain states passing recent laws aimed at combating environmental, social, and governance policies.
In a recent Reuters interview with US Congressman Brad Sherman, who has served for 26 years on the Financial Services Committee, Sherman coins a term we had never heard of, but we think is genius and is one of his suggestions for combatting ESG Backlash…
“ESGW,” where “W” stands for workforce, is a primary way Sherman suggests the climate community can connect the dots between the money flowing to climate tech and ESG and the benefits to the regular taxpayer who, of course, bankrolled the IRA.
In other words, unless the climate community underscores the benefits of ESG to all, public support may slip further, and climate momentum may lose more ground. Developing and spotlighting training, mentoring, and jobs opportunities in all regions—particularly those hit by the transition away from fossil fuels—is one important way of doing this.
(Separately, and just for fun, we thought we’d point out that “W” also stands for Women+. Those of you who remember our TCFDW program from the summer of 2021 may smile 🙂
The interview with Sherman is worth a listen, and we are excited to be partnered with Reuters in support of the October event, which will feature senior ESG leaders from The White House, Citi, TCFD, Ellevest, UN PRI, The World Bank, and much more.
As always, thank you for your encouragement and ongoing support. We wish you a wonderful week.