ESG Mentions Decline Amid Political Pressure, While Institutions Embrace Crypto Demand
The mention of ESG (environmental, social, and corporate governance) principles by CEOs on corporate conference calls has dropped significantly as political heat surrounding the term rises. Only 74 S&P 500 companies mentioned ESG during the first-quarter earnings season, the lowest count in nearly three years. BlackRock CEO Larry Fink, who had been a prominent advocate for ESG, recently stated that he refuses to say the term due to it being "weaponized" and "misused." The decline in ESG mentions coincides with increased political focus on the issue, with House Republicans aiming to make July an "ESG month" and several states proposing anti-ESG investing bills.