Washington – Unlocking America’s Future today launched a new website outlining how wealthy billionaires, well-funded interest groups, and self-serving politicians are systematically trying to dismantle responsible investing (ESG). The new hub connects the dots between decades-long funding efforts and anti-responsible investing policies, which harm the economy and well-being of everyday Americans, surfacing at the state and federal levels today.
The website provides deep research on advocacy groups and think tanks operating as a vehicle for many of these anti-responsible investing policies, including the Heritage Foundation, American Enterprise Institute (AEI), American Council For Capital Formation (ACCF), Consumers Research, Manhattan Institute, Texas Public Policy Foundation, State Financial Officers Foundation, American Legislative Exchange Council, and National Center for Public Policy Research.
“This new research hub exposes how wealthy billionaires at the helms of the oil and gas industry are funding think tanks and self-serving politicians to dissuade businesses, mislead the American public, and thwart progress on the climate,” said Kyle Herrig, spokesperson for Unlocking America’s Future. “People like Charles Koch and Leonard Leo are pushing for anti-responsible investing policies to line their own pockets, despite the fact that a majority of Americans, including 70% of Republicans, oppose bans on responsible investing.”
Some of the most well-coordinated advocacy groups analyzed have taken millions from oil and gas interests, including:
- The Texas Public Policy Foundation (TPPF) has taken at least $8.3 million.
- Heritage Foundation has taken over $8 million.
- American Enterprise Institute (AEI) has taken over $7.75 million.
- American Legislative Exchange Council (ALEC) has taken at least $6.5 million.
- The Manhattan Institute has taken at least $5 million.
- American Council For Capital Formation (ACCF) has taken at least $3 million.
- Consumers Research is funded by Marble Freedom Trust, which was seeded by a record $1.6 billion donation from extreme manufacturing magnate Barre Seid.
Despite unprecedented actions by politicians in recent months, voters are overwhelmingly favorable to “responsible companies,” “sustainable business practices,” and “responsible investing.” Research has consistently shown that attacks on responsible investing endanger the financial well-being of everyday Americans, especially in the form of higher taxes and lower returns on retirement savings.
