ANTI-ESG TIGHTROPE — There's not much evidence that voters care about Republicans' latest bogeyman, but the GOP is still slapping more papier-mâché on the anti-ESG piñata. Federal and state lawmakers have introduced at least 34 anti-ESG bills so far this year, according to the communications firm Climate Nexus. Republicans plan to keep the focus on the issue through the 2024 campaign, and the drumbeat is accelerating: Just last week, Florida Gov. Ron DeSantis approved changes prohibiting the state’s retirement system from considering ESG factors, and Montana Gov. Greg Gianforte barred the state’s investors from advancing ESG principles. Some observations that may help you parse the growing outrage on Fox ("How did Larry get to Davos, by the way? In his solar jet?"): — Keep it simple, stupid. Republicans know the typical conservative voter isn't distinguishing between BlackRock's policy of weighing environmental, social and governance factors in making investment decisions and general grievances about “woke” corporations. There’s some recognition within Republican circles that while criticism against ESG is likely to intensify, the messaging may not resonate with voters. "It’s important to talk in more broad philosophical strokes because there are people who will not appreciate the specifics," said Adam Geller, founder and CEO of the Republican polling firm National Research Inc. “It’s part of a long list that Republicans would point to that says Democrats are out of the mainstream. It's part of the stew that Republicans can utilize, but it's not the issue.” — The vanguard is conflicted. Yes, certain governors, attorneys general and treasurers are riding the anti-ESG wave as far as it will take them. But board members of the right-wing American Legislative Exchange Council, which disseminates model legislation to state houses, are split. They voted on Friday to reject a proposal that would give state lawmakers a template to stop doing business with companies deemed to be boycotting fossil fuels. It’s a policy that some states like Texas have already signed into law, and which new research shows could be costly for municipalities. The ALEC board — which includes Republican lawmakers from 23 states — voted in a closed-door meeting to send the bill back to the group's energy task force for further review instead of adopting it as official policy. — The silent majority may speak up soon. Business trade groups may not be publicly sticking up for BlackRock, Republicans' main punching bag. But State Street CEO Ron O'Hanley is pushing back, telling the Financial Times, “It’s become a convenient way to distort the facts and win votes.” And the American Bankers Association spoke up against the ALEC bill last week. "Government should not be dictating business decisions to the private sector, which is what the draft model policy proposed," an ABA spokesperson said in a statement. And to the extent the anti-ESG push is bleeding into broader climate policy, it's going to butt up against Republican support for renewables and electric vehicles, which is very much a thing. Two-thirds of the 30-some major clean-energy projects that have been announced so far on the back of the Inflation Reduction Act are expected to be located in Republican-held congressional districts, Kelsey Tamborrino and Josh Siegel report. There are signs that moderate Republicans are getting fed up. “At a high level, clearly this is something that’s getting a lot more attention from every side,” said Rich Powell, CEO of ClearPath, a nonprofit cleantech advocacy group that's gaining traction with conservative lawmakers. “Clearly, this term and the application of the term has gotten really political. And it’s time to figure out a way to depoliticize this and get back to basics on a lot of the principles behind it.”
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