Three Strategies to Push Back on Companies Who Invest in ESG
Companies intend to increase spending on Environmental, Social, and Governance (ESG) services to $158 billion by 2025. Leadership at International Data Corporation (IDC) said that this spike in spending on ESG efforts stems from pressure applied by customers, investors, and regulators.
Despite the daunting rise of support for ESG and its woke proponents, many American investors, business owners, and employees are pushing back. US Republicans have pulled one billion dollars from Blackrock due to investing concerns. Fifty-nine percent of CEOs are feeling pressure from stakeholders to increase reporting and transparency on ESG issues, according to KPMG, as conservative parties speak up.
Here are three strategies you can implement to push back on businesses that are investing in woke ESG policies.
1. Vote with your dollars.
You can vote with your dollars by choosing where you shop. According to a survey from Bankrate, American consumers are more likely to shop on Small Business Saturdays than at the big box stores on Black Friday. Fifty-nine percent of holiday shoppers are likely to shop on Small Business Saturday this year, ahead of Black Friday which sits at fifty-six percent. You can vote with your dollars by shopping with businesses that align with your values.
2. Vote with your voice.
If you invested in a company or sit on the board of a business, you can leverage your position by speaking up about your values. For example, following a proposal made by Clean Yield Asset management that urged Walmart to detail "any known and any potential risks and costs to the company enacted or proposed state policies severely restricting reproductive rights," Less than thirteen percent of shareholders voted in favor of this idea. Speak up at board meetings.
3. Vote with your labor.
Employees and job seekers are in the driver's seat in today's labor market. Current job openings sit at 10.7 million with only 5.7 million American workers available to fill them, according to the Job Opening and Labor Turnover survey published monthly by the Bureau of Labor Statistics. This means that there are 1.9 jobs for every available worker. If you aren't excited about the direction of your company, this is the time to vote with your labor and work for a company that doesn't despise everything you stand for.
If you want to find an employer or a business that will provide a values-aligned workplace, apply at RedBalloon.work.