Conservatives have been a “wrecking ball” to the environmental, social, and governance (ESG) investing movement, as well as other trends, including DEI (diversity, equity, and inclusion) and CRT (critical race theory). A growing number of Red states have pulled billions of dollars from BlackRock’s management as they disapprove of the world’s top asset manager’s ‘woke’ investing policies. Now investor support for ESG proposals slides to a six-year low, a wake-up call for BlackRock’s Larry Fink.

A recent count of votes compiled by the Sustainable Investments Institute through the end of this week shows the average backing of resolutions centered around ESG, DEI, and CRT has dropped to about 22% at annual shareholder meetings, down from a peak of 33% in 2021, according to Bloomberg. Support for sustainable investing is at the lowest level since 2017.

Heidi Welsh, who runs Sustainable Investments, described Republican opposition to ESG initiatives as a “wrecking ball.” She said support for ESG is sliding “across the board.”

[OM GOSH, that’s cheerful! ~ Beege]