“ESG is not a regulation or a set of rules, and it does not require any real action from a corporation. It’s mostly used as a catch-all term for any investment that considers social and environmental responsibility. In fact, what counts as ESG is so ill-defined and malleable it has been criticized as a way to “greenwash” corporate actions.
One of the defining ideas of ESG is that a company is better off accounting and reporting environmental and social risks to investors and clients, rather than being willfully blind to the world around it. This can include a broad swath of issues, such as a company’s reliance on oil, gas, and coal, or exposure to sea-level rise in coastal operations, human rights violations of the countries it operates in, and lack of board diversity and CEO transparency. A big part of the ESG movement, at least right now, is largely about disclosure of these potential bottom-line risks in the future, not necessarily doing anything differently in the present.
But Republican officials in West Virginia, Texas, Louisiana, Missouri, and now Florida have withdrawn billions of dollars from BlackRock’s management. Proponents are planning to introduce a slew of bills in at least 15 states next year to divest pensions and boycott companies for considering sustainability as an aim. At the federal level, House GOP lawmakers are preparing antitrust investigations.
To get to the bottom of what is driving this, I spoke to one of the state officials leading the attack on ESG, Riley Moore, state treasurer of West Virginia. The way he sees it, “banks are coercing capital away” from coal, gas, and oil industries. He explains he doesn’t want the coal- and gas-reliant state to contract its financial services with a company that is “trying to diminish those dollars. They want less coal mining, they want less fracking.”
This is getting much bigger than BlackRock, State Street, and Vanguard, companies that used to be solidly at the right of corporate America. There are real stakes for pensioners, red-state taxpayers, and the wider economy if the GOP succeeds in scaring off financial institutions from pursuing climate targets.”
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“On the left, ESG has for years come under criticism as a form of greenwashing, and ESG disclosure isn’t the same thing as corporate behavior. As Harvard Business Review noted, the funding in ESG is “dedicated to assuring returns for shareholders, not delivering positive planetary impact.” Many environmentalists think ESG is a distraction from the main issue they’d like to see traction on: companies disclosing the impact their products and investments have on the world around them, and accounting for that in decisions.
ESG doesn’t go this far. In no way will disclosure be enough to save the planet from climate change. There are no binding requirements, either. But what Republican critics of ESG really fear is that the financial world will realign with climate science and no longer see new coal plants and offshore drilling as viable projects to finance.”
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“Many of the Republican attacks on ESG stem from a misrepresentation of what it actually means. It’s not always motivated by an altruistic climate or social agenda. ESG also helps banks and public companies meet their one goal by screening investments for various risks. “They’ve got a fiduciary duty to generate returns. So they’re not going to impose some agenda, whether it’s climate or social agenda, that’s going to get in the way of returns,” said University of Oxford business expert Robert Eccles.
As baseless as the attacks have been, the pressure could still work. Vanguard on Wednesday announced it is withdrawing from the Net Zero Asset Managers coalition, in which companies voluntarily committed to reaching net-zero emissions in their portfolios by 2050.”
“So if the Republican Party finally rejects Trump, is that also a rejection of the authoritarian and illiberal impulses his political career has amplified? I’m open to being pleasantly surprised, but so far, the evidence answers with a resounding “no.” Even if Trump loses this primary race, there’s every reason to think his party will retain its present will to power.
At The Bulwark this week, Jonathan V. Last documented a telling contrast between Republicans’ rationales for rejecting Trump now and their original objections to his candidacy in 2015 and 2016. Back then, GOP critiques of Trump were grounded in language about policy and governing principles or personal character, or both. Now the repudiation is openly transactional: Trump loses, and Republicans don’t want to lose.”
“The ads may have taken different tacks, but all have the same emphasis: presenting moderate Republican candidates as less appealing to the party’s base. If Republican primary voters choose candidates further from the mainstream, then Democrats hope to have an easier time beating them in the general election. By now this is a familiar pattern: In states from Maryland to Pennsylvania to Michigan, Democrats have collectively spent tens of millions on ads painting Republican candidates as “too conservative” or “handpicked by Trump.”
It’s a bad idea in any context, but the tactic looks especially craven in light of President Joe Biden’s speech in Philadelphia earlier this month.
From Independence Hall, Biden warned that “Donald Trump and the MAGA Republicans represent an extremism that threatens the very foundations of our republic.” He said they “promote authoritarian leaders,” “fan the flames of political violence,” and are “committed…to destroying American democracy.” Opposing these forces constituted “a battle for the soul of this nation.”
But Biden’s warning rings hollow while his party is spending a fortune propping up MAGA Republican candidates, hoping to make them just electable enough for primary voters but not quite electable enough for the general public. It’s a considerable gamble that could easily backfire.”
“The litany of grievances, the sense that Trump has been forever persecuted by the government, the unfounded implication that the FBI was “planting information” at his house — all of it screams victimization, that Trump is the target of a vast and shadowy conspiracy pulling the FBI’s strings.
The fact that a Truth Social user had just been radicalized by such talk — posting violent threats on the site before attempting an armed breach of an FBI building — isn’t deterring Trump at all. He is, as the political scientist Julia Azari puts it, a nationalist who has no concept of a nation; a narcissist who abuses the language of patriotism without any commitment to the underlying idea that he has some responsibility to preserve order and cohesion in the polity. In fact, he does the opposite — sowing division and stoking violent distrust if it helps him.
Perhaps Trump’s talk wouldn’t be so dangerous if the rest of the GOP would work to tamp it down. Yet it’s become excruciatingly clear in the wake of his emergence as the GOP’s standard-bearer that Republicans are not taking Trump’s transgressions and troubles as opportunities to dump him, but rather to dig in, right by his side, in similarly radical terms.”
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“As it escalates, there is every chance that Trump’s supporters will become more radicalized.”
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“The Department of Homeland Security has thought since at least 2020 that white nationalists are now the greatest terrorist threat to the American homeland. The odds of a greater increase in far-right terrorism, especially from disgruntled Trump supporters who have been taught to see the Biden administration as part of a tyrannical “Regime,” are rising — and will continue to rise as the broader conservative movement keeps using the virulent anti-government language of the fringe right.
The United States is at a troubling crossroads. If investigators in jurisdictions around the country drop their inquiries into Trump, they are tacitly conceding that he can break any laws without consequence prior to a near-certain 2024 presidential run — an incredibly dangerous precedent. If they continue their work, they risk stoking further unrest and civil conflict, pushing an already polarized country toward an even more dangerous form of division.
Trump and his enablers have taken the country to a very dark place. And we have every reason to believe things will get darker before the dawn.”
“The bad news for Never Trump Republicans this week wasn’t just that Liz Cheney lost the primary for her Wyoming congressional seat on Tuesday. It wasn’t even that she lost by such an overwhelming margin. It was that her loss fit a pattern in which the GOP’s voters have roundly rejected Republican after Republican who voted to impeach Trump. Only two of the 10 House Republicans who did so will even be on the ballot in November — one of whom is running in a district that Joe Biden won by more than 10 percentage points in 2020.
It’s clear at this point that the Republican Party is a pro-Trump party, and that its voters recoil from candidates who are ardently opposed to the former president. The results of this primary season — and Cheney’s loss in particular — show a Never Trump wing on the verge of extinction.”
“Republican state officials have been waiting decades for the chance to ban abortion.
Now that they can, red state lawmakers are mired in partisan infighting and struggling to agree on how far to go. The most fervently anti-abortion lawmakers are accusing their colleagues of capitulating on rape and incest exceptions, while those calling for compromise or moderation believe more strident Republicans are ignoring political realities.”
“In Arizona, Senate nominee Blake Masters and likely gubernatorial nominee Kari Lake are Trump-endorsed 2020 election deniers. In Michigan, gubernatorial candidate Tudor Dixon is cut from a similar cloth. Michigan Rep. Peter Meijer, one of 10 House Republicans to vote for Trump’s impeachment in 2021, lost his bid for reelection to yet another Trump-endorsed Big Lie supporter (two other House impeachment supporters, Washington Reps. Jaime Herrera Beutler and Dan Newhouse, seemed on track to fend off Trump-backed challengers in Washington state’s open primary). Rusty Bowers, the Arizona House speaker and star January 6 committee witness, lost a state Senate primary to — you guessed it — a Trump-backed election conspiracist.
It’s a splash of cold water on the narrative of a waning Trump.
“Pundits trying to will into existence a GOP that has moved beyond him are way beyond the facts,” the Atlantic’s Ron Brownstein wrote on Wednesday morning. “This remains a Trump-ified GOP, with most openly embracing him and almost none openly confronting him.”
Brownstein is right. And he’s right for a fundamental reason: Trump’s vision of politics, a war between true Americans and a system that has betrayed them, describes how many Republican voters see the world.”
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“The simplest barometer of whether Trump still dominates the party is the 2024 presidential polls. And by that metric, Trump’s grip is pretty hard to question.
The RealClearPolitics poll average has Trump leading the field by an average of 26.2 points. All but one national poll cataloged by FiveThirtyEight in July had Trump beating DeSantis by a similarly large double-digit margin (the sole outlier, from Suffolk University, had Trump ahead by a “mere” 9 points).
Granted, any challenger against an “incumbent” like Trump probably wouldn’t pop up on many voters’ radars this far ahead of an election. But much of the “Trump is slipping” coverage skips past all this vital context. For example, the New York Times recently ran a write-up of its poll with Siena College headlined “Half of G.O.P. Voters Ready to Leave Trump Behind, Poll Finds.” And indeed, the poll did find that 51 percent of Republicans would vote for someone other than Trump if the primary were held today.
Yet the headline is misleading. The Times poll found that Trump still commanded 49 percent support in the party; his next closest rival, DeSantis, garnered a mere 25 percent. In the article, reporter Michael Bender notes that the results show that “Mr. Trump maintains his primacy in the party,” contradicting the piece’s headline.”
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“If you read studies of the American conservative movement, Trump’s continued strength should be no surprise. The political strength of the movement never came from its policy ideas. Many of its positions, like tax cuts for the rich and stringent abortion restrictions, have ultimately proven to be extremely unpopular.
Instead, its strength has been rooted in grievance: the bitterness of those who believe that modern America is changing too fast, beyond recognition, turning “traditional” citizens into aliens in their own country.
A charitable observer might call this sentiment nostalgia for a bygone America. A more critical one might call it the venting of reactionary white male rage against a more egalitarian country. But whatever your assessment, it is this politics of cultural grievance that animates the GOP base.”
“Video recordings of Republican Party operatives meeting with grassroots activists provide an inside look at a multi-pronged strategy to target and potentially overturn votes in Democratic precincts: Install trained recruits as regular poll workers and put them in direct contact with party attorneys.
The plan, as outlined by a Republican National Committee staffer in Michigan, includes utilizing rules designed to provide political balance among poll workers to install party-trained volunteers prepared to challenge voters at Democratic-majority polling places, developing a website to connect those workers to local lawyers and establishing a network of party-friendly district attorneys who could intervene to block vote counts at certain precincts.”
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“election watchdog groups and legal experts say many of these recruits are answering the RNC’s call because they falsely believe fraud was committed in the 2020 election, so installing them as the supposedly unbiased officials who oversee voting at the precinct level could create chaos in such heavily Democratic precincts.
“This is completely unprecedented in the history of American elections that a political party would be working at this granular level to put a network together,” said Nick Penniman, founder and CEO of Issue One, an election watchdog group. “It looks like now the Trump forces are going directly after the legal system itself and that should concern everyone.”
Penniman also expressed concern about the quick-strike networks of lawyers and DAs being created, suggesting that politically motivated poll workers could simply initiate a legal conflict at the polling place that disrupts voting and then use it as a vehicle for rejecting vote counts from that precinct.”
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“On the tapes, some of the would-be poll workers lamented that fraud was committed in 2020 and that the election was “corrupt.” Installing party loyalists on the Board of Canvassers, which is responsible for certifying the election, also appears to be part of the GOP strategy. In Wayne County, which includes Detroit, Republicans nominated to their board a man who said he would not have certified the 2020 election.
Both Penniman and Rick Hasen, a law and political science professor at the University of California, Irvine School of Law, said they see a domino effect that could sow doubts about the election even when there was no original infraction: A politically motivated poll worker connecting with a zealous local lawyer to disrupt voting, followed by a challenge to the Board of Canvassers that may have nothing to do with the underlying dispute but merely the level of disruption at the polling place.
“You shouldn’t have poll workers who are reporting to political organizations what they see,” Hasen said. “It creates the potential for mucking things up at polling places and potentially leading to delays or disenfranchisement of voters,” especially “if [the poll workers] come in with the attitude that something is crooked with how elections are run.””
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“Penniman, the election watchdog, believes the strategy is designed to create enough disputes to justify intervention by GOP-controlled state legislatures, who declined to take such steps in 2020.”
“a majority of registered voters in all 50 states now favor making cannabis legal, according to state-level polling data from Civiqs. Support ranges from a low of 52 percent in North Dakota to a high of 81 percent in Vermont and Washington.”
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“the U.S. House passed legislation that would decriminalize marijuana at the federal level.
Not everyone is on board with those policy changes, though. Over 200 House Republicans voted against the legislation, while only three voted for it. (By comparison, over 200 House Democrats voted for the legislation, while only two voted against it.) That partisan opposition means the bill will almost certainly die in the U.S. Senate.”