Anti-ESG

ProMarket Managing Editor Andy Shi reviews the controversy behind ExxonMobil’s new voting program and how it falls into the broader debates over recent developments to shareholder democracy and corporate governance.

Anti-ESG rhetoric from conservative states conflates valid financial evaluations of company and industry prospects with the ideological values of political opponents. Politicians that pass legislation preventing businesses and state agencies from working with financial services with ESG standards will only harm their constituents. Instead, states should encourage competition and variety in financial services, writes Jennifer J. Schulp.