THE RIGHT'S LOSING WAR ON CAPITALISM:

Opponents want companies to refocus on their financials and steer clear of making political and social statements that could alienate customers and other stakeholders. They argue that ESG has diminished financial returns for investors. But if it has, shareholders either don't care or don't believe a solution is anti-ESG proposals, which "won some of the lowest support levels on record."

Diligent's report says that the National Center for Public Policy Research is "perhaps the most prominent player in the anti-ESG movement" but the conservative think tank's proposals failed to gain traction. In the 2023 season, the NCPPR filed 57 proposals on the risks of ESG investing, including corporate statements on abortion, business activities in China, and audits of corporate net-zero goals. More than 30 made the ballot but most received less than 2 percent of support from shareholders.

The National Legal and Policy Center, a conservative non-profit group, filed 14 anti-ESG resolutions (the second most) seeking content censorship risk audits and content censorship reporting, among other topics. Most proposals had little support but required reporting on operations in China were among its best received. At Boeing's and Walt Disney's annual meetings, the China proposals won 7.5 percent and 7.4 percent support, respectively.

The American Conservative Values ETF partnered with NCPPR to file four shareholder proposals related to risks of political speech, and diversity and inclusion policies. An average of less than 2 percent of shareholders supported them.

Tweet   @brothersjudd