Will Hild, the executive director of Consumers’ Research, said on Breitbart News Daily that a triumvirate of asset managers, banks, and insurers are leading the far-left Environment, Social, and Governance (ESG) movement.
Hild spoke with Breitbart News Daily host Mike Slater about the ESG movement, which has become the latest vector through which large financial institutions and others push companies to adopt leftist policies they otherwise would not back. This includes pushing companies to adopt policies advocating for alleged racial justice issues and anti-climate change initiatives.
Hild explained how asset managers such as BlackRock, State Street, and Vanguard big banks, and insurers have been pushing the ESG movement.
He explained that these asset managers have “hoovered up” state, local, and federal pension plans such as the Thrift Savings Plan (TSP), the federal retirement planning system. The Consumers’ Research director said use the assets of the plans they manage to push their own agenda and explained how Larry Fink, the CEO of BlackRock, uses his influence to push companies they invest to go carbon neutral by 2050.
Hild then continued, saying that large banks such as Bank of America push carbon-neutral targets.
He said Bank of America would say, “Listen, if you want a loan from our bank, we’ll give it to you only on the condition that you agree to these net zero [emission] targets.”
Hild said that many large insurers were pushing companies to adopt leftist policies to receive insurance policies. However, he said that many of these insurers have backed away after receiving pushback from state attorneys general.
“We have to make sure they stop using the public’s assets to push their personal politics,” Hild remarked.
Bloomberg reported in September that more ESG funds have closed in 2023 than the last few years combined. Big investors increasingly see Environment, Social, and Governance (ESG) investing as an underperforming fad.
Breitbart News Daily airs on SiriusXM Patriot 125 from 6:00 A.M. to 9:00 A.M. Eastern.
Sean Moran is a policy reporter for Breitbart News. Follow him on Twitter @SeanMoran3.
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