As Ramaswamy addresses the CPAC crowd at its Ronald Reagan Dinner, it’s important to keep in mind that his history and attacks on responsible investing failed to resonate even with Republican Primary voters. Ramaswamy more than any other politician staked his career and his claim to the presidency on attacking so-called “anti-woke” policies.
- Ramaswamy launched Strive Asset Management, explicitly as an anti-ESG asset management firm seeking to become the “go-to alternative for GOP states seeking to ditch the BlackRocks of the world.”
- Ramaswamy is the author of Woke Inc.: Inside Corporate America’s Social Justice Scam, which lays out his vociferous opposition to responsible investing and corporate social or environmental initiatives.
- Ramaswamy “anchored” his presidential campaign in attacking big business and his initial campaign slogan was “Stop Wokeism. Vote Vivek.”
Outside of Vivek’s address, anti-responsible investing is expected to be a hot topic among the speakers. Other addresses include “No Woke Warriors” and “Putting Our Heads in a Gas Stove.” The fact is that anti-responsible investing remains wildly unpopular among Americans.
- Across party lines, Americans overwhelmingly support corporations’ efforts to invest responsibly, and even 70% of Republicans oppose government interference on this.
- A majority of Americans (83%) say they trust companies more than politicians when deciding whether they agree with a company’s stance on an issue.
- Only 8% of Americans think investigating how U.S. companies spend money on ESG initiatives should be a priority, and a majority of voters agree that financial managers should be allowed to consider environmental factors when making investing decisions.
- Research continues to show that sustainable funds have comparable, if not better, financial returns to traditional funds with less downside risk.
- Attacks on responsible investing are causing billions of dollars in lost returns for public pensions across the nation and costing taxpayers millions through increased state administration costs and higher interest rates and borrowing costs.
The CPAC 2024 lineup shows that self-interested politicians will put the needs of their greedy CEO donors ahead of the American public, every time.
