The new anti-ESG movement: same folks, different face
The original anti-ESG movement eventually appeared to fizzle. CSRwatch.com stopped being updated in late 2007 and the domain expired in 2008. Shortly after, The Free Enterprise Action Fund was merged into a separate mutual fund that had nothing to do with anti-ESG advocacy.
The Free Enterprise Education Institute was then acquired by the National Center for Public Policy Research, a much larger right-wing think tank funded by some of the similar players, including ExxonMobil. The NCPPR announced that Milloy and Borelli would remain at the head of the project, which would from then on be called the Free Enterprise Project.
At the time, Borelli said the merger would “significantly enhance our ability to educate the public on emerging threats to our free enterprise system.” And though it took about 14 years, it appears Borelli was correct.
The new anti-ESG financial firm backed by Peter Thiel and Bill Ackman, Strive Asset Management, is being led by Justin Danhof, the former executive Vice President of the NCPPR. In a recent interview with the Capitol Account newsletter, Danhof explained his qualifications: “I ran a program called the Free Enterprise Project,” he said. “We were really at the beginning of what you would call any sort of pushback against ESG, woke capital — before it was even a term.”
It may be more sophisticated today, but the anti-ESG movement is the same as it ever was: a political effort to delay climate action led by fossil fuel industry propagandists. It follows the classic playbook of climate disinformation by trying to “both sides” the idea of climate risk. But Witold Henisz, the director of the Wharton School’s ESG program, put it best: “Climate risk is investment risk. There is no credible other side, only an ideological opposition cynically seeking a wedge issue for upcoming political campaigns.”
The curious origins of the anti-ESG movement https://heated.world/p/the-dirty-origins-of-the-anti-esg