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https://washingtonstand.com/comment...tivism-on-ice-if-financial-squeeze-continues-
Maybe a recession wouldn’t be the worst thing in the world after all. According to the woke CEOs of America, conservatives would at least have one thing to look forward to: a “pause” in ESG investing. That’s one of the stunning takeaways from KPMG’s latest survey of hundreds of top executives. “In an uncertain economic environment, CEOs are adjusting their business strategies …” Chair Paul Knopp explained. And one of those “adjustments” is to reconsider their radical activism — a shift red states are speeding up with every painful divestment.
....A whopping 59% of CEOs admitted they “plan to pause or reconsider their organization’s ESG efforts in the next six months as they adjust their strategy to prepare for a recession.” That would be a seismic shift for corporate America, who’s been quite content to trade profits for political capital these last few years. Lauren Taylor Wolfe, co-founder of Impactive Capital, confessed that the woke-first mentality is no longer a practical option in the current climate, where financial performance — not social extremism — must be king. “We believe that ESG without returns is simply not sustainable,” she said. “We are exclusively focused on risk-adjusted returns.”
Those concerns seem to echo across Big Business, at least privately. Polls show that investors don’t care nearly as much about ESG as the out-of-touch board rooms making these left turns. And some of those investors — conservatives at the lever of major state pension plans — are letting corporate America know......
59% of CEOs Will Put Radical Activism on Ice If Financial Squeeze Continues
https://washingtonstand.com/comment...tivism-on-ice-if-financial-squeeze-continues-
Maybe a recession wouldn’t be the worst thing in the world after all. According to the woke CEOs of America, conservatives would at least have one thing to look forward to: a “pause” in ESG investing. That’s one of the stunning takeaways from KPMG’s latest survey of hundreds of top executives. “In an uncertain economic environment, CEOs are adjusting their business strategies …” Chair Paul Knopp explained. And one of those “adjustments” is to reconsider their radical activism — a shift red states are speeding up with every painful divestment.
....A whopping 59% of CEOs admitted they “plan to pause or reconsider their organization’s ESG efforts in the next six months as they adjust their strategy to prepare for a recession.” That would be a seismic shift for corporate America, who’s been quite content to trade profits for political capital these last few years. Lauren Taylor Wolfe, co-founder of Impactive Capital, confessed that the woke-first mentality is no longer a practical option in the current climate, where financial performance — not social extremism — must be king. “We believe that ESG without returns is simply not sustainable,” she said. “We are exclusively focused on risk-adjusted returns.”
Those concerns seem to echo across Big Business, at least privately. Polls show that investors don’t care nearly as much about ESG as the out-of-touch board rooms making these left turns. And some of those investors — conservatives at the lever of major state pension plans — are letting corporate America know......
