In the last few years there have been mounting attacks against “woke capitalism” and ESG investing. We are seeing these attacks in state legislatures and Congress, as well as from the White House and conservative investors. While these attacks are part of the American landscape, in Europe, ESG investing and corporate sustainability are widely supported. Interestingly, these public attacks on “woke capitalism” target Walmart as much as BlackRock. Yet, literally thousands of major companies publish annual sustainability and corporate responsibility reports outlining their values, the business case for acting as responsible corporate citizens, and their goals and work on the environment, social issues, and governance.

Some companies work within their industries to promote leadership on issues like methane emissions, human rights in supply chains, reduction of the use of plastic, or reduction of greenhouse gases (GHGs).

The Business Roundtable’s 2019 Statement on the Purpose of a Corporation,[1] endorsed by 181 CEOs, correctly acknowledged that the modern corporation needs to be accountable to all of its stakeholders including its workers, customers, and the communities where it operates.

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