What few people seem to realize is that Bud Light’s collapse in sales is not just a threat to Anheuser-Busch. It’s a threat to the entire ESG model.

Up until this point, ESG has thrived because the perceived costs of not participating outweighed the costs of participating. Bud Light’s implosion stands to change that perception, which is precisely why the ESG overlords are striking back.

On Friday, USA Today published a leaked letter showing the Human Rights Campaign had informed Anheuser-Busch “that it has suspended its Corporate Equality Index score — a tool that scores companies on their policies for lesbian, gay, bisexual, transgender, and queer employees.”

[And … so? Their ESG score didn’t do much to save them from a 30% falloff in sales for Bud Light. It’s not helping Target avoid the loss of billions in market capitalization, either. One look at the ESG wars of the past few weeks should have corporate boards telling ESG activists and the 6% of the market they MIGHT represent to pound sand. — Ed]