Consumers’ Research is one of the most well-funded anti-responsible investing groups in the United States, notorious for its ties to billionaires from polluting industries and harmful attacks against corporate ESG practices and investing. Led by extremist activists and climate denialists, the organization has focused much of its efforts on attacking the U.S. Securities and Exchange Commission’s (SEC) climate risk disclosure rule, which would require publicly traded companies to disclose information about greenhouse gas emissions. Poll after poll shows the SEC’s rule is overwhelmingly popular among Americans across party lines, and voters do not want Congress to interfere.
Most recently, Consumers’ Research launched a campaign, ESG Kills Farms, to mislead farmers about ESG. The campaign purports ESG is the biggest threat facing family farms today. Consumers Research attacks related elements in the upcoming Farm Bill, suggesting that net-zero policies that aim to protect farmers’ land will hurt them economically.
“Consumers’ Research is at the epicenter of a network of billionaire activists leading well-funded, well-coordinated campaigns to attack responsible investing and climate risk disclosures,” said Unlocking America’s Future spokesperson Kyle Herrig. “Leonard Leo and other shadow leaders of this broader effort weaponize false claims to block transparency, kill ESG policies, and protect wealthy special interests – despite deep research showing that responsible investing and standardized climate risk disclosures are good for transparency in the financial system, our environment, and retirees.”
The leaders of Consumers’ Research are widely recognized anti-ESG and “anti-woke” activists, known for their shady ties and extreme views:
Leonard Leo
Rightwing judicial activist Leonard Leo founded Consumers’ Research with $1.6 billion in seed funding from Marble Freedom Trust, which is led by billionaire and manufacturing magnate Barre Seid. In 2020, it was discovered that the firm was publicly attacking climate policy on behalf of major oil and gas company Chevron, who was their client at the time.
Leo was previously a longtime leader of the Federalist Society and advisor to the Trump administration on judicial nominees, including eventual Supreme Court judges Neil Gorsuch, Brett Kavanaugh, and Amy Coney Barrett.
Leo, who has described responsible investing as “polluting our culture and assaulting the dignity and worth of people,” has leveraged the shady advocacy groups he leads to fund these attacks. Leo has operated as a shadow ruler of the anti-ESG movement and his network has contributed nearly $10 million to groups opposing the SEC rule.
Will Hild
Will Hild is the Executive Director of Consumers’ Research. Hild previously worked at several extreme organizations, including Leonard Leo’s Federalist Society. As reported in Bloomberg, Hild “works behind the scenes crisscrossing the nation to lobby Republican state officials” to oppose ESG efforts, while also “sending bombastic text messages about the evils of ‘woke’ corporations or making media appearances touting ESG as a threat to America.” Hild’s anti-ESG activism purportedly started over his frustration with his office building no longer allowing single-use cutlery because of the environmental consequences. Seriously.
Hild has also railed against companies embracing women’s rights and diversity and inclusion, claiming Consumers’ Research “helped punish” Bud Lite for their advertising campaign that included a transgender woman. Hild has blasted corporations paying for travel costs for women seeking care in states with restrictive abortion policies.
Tom Miller
Tom Miller is the Senior Research Fellow for Consumers’ Research. Miller is also a Professor of Finance at Mississippi State University and a Senior Affiliated Scholar, Emeritus with the right-wing Koch-funded Mercatus Center. Most of Miller’s academic research is focused on carrying water for the payday lending industry—a predatory industry that is notorious for funding and slanting academic studies in their favor.
During his academic career, Miller has published papers that argue that a 36% cap on interest rates is harmful to consumers and written numerous articles advocating against rate cap legislation in states.
Miller has also criticized the CFPB’s rule to rein in the abuses of the payday loan industry and claimed that payday lenders help “millions of Americans solve very real financial problems each year.”
Learn more about Consumers’ Research at ResponsibleInvestingWatch.US.
