Lauren Windsor on Weaponizing Government Against ESG and Net Zero Initiatives

The "War on Woke Capitalism" and ESG

• 🎯 ESG (Environmental, Social, and Governance) investing, also known as socially responsible investing, gained traction during the Biden administration, with BlackRock CEO Larry Fink as a key evangelist.
• 💰 A right-wing network funded by Leonard Leo, fueled by a $1.6 billion donation from Barry Side, is targeting ESG and "woke capitalism" as a primary political strategy.
• 🏛️ Leonard Leo, formerly of the Federalist Society, now runs CRC Advisors and the Marble Freedom Trust, which is under investigation for self-enrichment and has moved its headquarters to Texas to avoid probes.

Texas's SB13 and Financial Firm Pressure

• ⚖️ Texas passed SB13, a law allowing the state to block financial firms from the bond market if they are found to be discriminating against the energy industry.
• 🏦 This law was used as a tool by Texas Attorney General Ken Paxton's office to pressure financial institutions, particularly Wells Fargo, to leave the Net Zero Banking Alliance.
• 🤝 The strategy involved leveraging consumer protection laws, antitrust laws, and banking laws, culminating in a meeting at the Governor's mansion where Wells Fargo was pressured to exit the alliance to regain access to the bond market.

The "War on Climate Change Policy"

• 📈 The tactic of using lawsuits and pressure campaigns has led to major banks, including Wells Fargo and BlackRock, withdrawing from Net Zero alliances, a trend that is expected to continue.
• 🗣️ This coordinated effort, funded by a network of conservative organizations, aims to demonize and dismantle any entity perceived as leftist or taking action against climate change or promoting diversity initiatives.
• ⛽ The narrative of protecting state industries is a facade; the real goal is to fortify failing fossil fuel companies and suppress sustainable energy alternatives by weaponizing government power.

Network Funding and Coordination

• 🌐 Groups like Consumers Research, run by Leonard Leo's mentee Will Hild, actively campaign against figures like Larry Fink, creating websites and content to demonize them.
• 💸 Funding flows through various entities within this ecosystem, with organizations like the Manhattan Institute, Heritage Action, and Consumers Research all receiving money that circulates within the network.
• 📢 The strategy involves waging proxy battles and using rhetoric to demonize big banks as leftist, despite their historical opposition to regulations like Dodd-Frank, to consolidate power and funding for conservative campaigns.