This week in responsible investing, Unlocking America’s Future released new research revealing how the anti-ESG measures in Project 2025 would keep investors out of the driver’s seat, hurt American businesses, and risk the retirement savings of millions of Americans. The architects of Project 2025 are part of a shady network of right-wing activists at the Heritage Foundation and greedy billionaires in the oil and gas industry. This new report exposes the extreme MAGA politicians leading the attacks.
Also this week, Texas’ landmark anti-ESG law SB13 has come under legal fire after the American Sustainable Business Council filed a lawsuit on Thursday challenging the law’s constitutionality.
That and more below:
Project 2025, a political initiative launched earlier this year by the hyper-conservative Heritage Foundation and allied MAGA groups, serves as a blueprint for a potential Trump administration to drastically reshape the U.S. government.
From UAF’s release: “Project 2025 is a 900-page anti-freedom doctrine, and its architects have made clear they plan to infringe on the rights of American retirees and their ability to invest freely and do what is best for their own personal interests,” said Kyle Herrig, spokesperson for Unlocking America’s Future. “Beyond forcing the hands of American taxpayers, the ESG section of Project 2025 will create severe, long-lasting damage to our economy and environment.”
You can read the full research report here.
New research from UAF shows how the anti-climate science advocacy group Pacific Research Institute has been leveraging attacks on responsible investing for years on behalf of the oil and gas industry.
From UAF’s release: “Pacific Research Institute is just one player in a larger network of advocacy organizations that pose as think tanks to push talking points drafted by billionaires from the oil and gas industry,” said Kyle Herrig, spokesperson for Unlocking America’s Future. “PRI has made clear its viewpoints are not grounded in reality or fact, but rather the interests of fossil fuel magnates including Liberty Energy CEO Chris Wright. These groups need to be held accountable for misleading the public and lying about responsible investing and climate change.”
Read more on the Pacific Research Institute here.
ESG Dive reports that the Coalition for Green Capital launched the first national U.S. green bank this week. The bank will generate and mobilize capital for renewable energy projects.
From ESG Dive: “The bank expects to use the EPA award to effectuate $21.1 billion in cumulative public-private clean power project investments in the first year, per the release. Hundt said the bank already has hired 23 employees — a number expected to double by the end of the calendar year — and over $10 billion in projects in its pipeline.”
On Thursday, the American Sustainable Business Council filed a lawsuit challenging the constitutionality of Texas anti-ESG law SB13, which has potentially cost the Texas economy nearly $700 million.
From UAF’s ICYMI: “Yesterday, the American Sustainable Business Council filed a lawsuit challenging the constitutionality of Texas anti-ESG law SB13. Since the law went into effect in 2021, Texas public entities have been forced to divest from financial institutions that practice responsible investing, costing the state nearly $700 million in lost economic activity and 3,000 lost full-time jobs, according to research from the Texas Association of Business.”
Read more:
- RELEASE: Pacific Research Institute’s Attacks on Responsible Investing Connected to Climate Change Denier, Big Oil Leadership
- ESG Dive: First national U.S. green bank launches with IRA funding
- RELEASE: Unlocking America’s Future Unveils New Research Exposing Project 2025’s Plans to Dismantle ESG
- Bloomberg: Texas Officials Sued Over Anti-ESG Law Targeting Wall Street
- Rolling Stone: Watchdog Calls for Pay-to-Play Probe Into Right-Wing Group
- ICYMI: American Sustainable Business Council Files Lawsuit Against Texas Law Costing State’s Economy Nearly $700 Million
