Most Voters Still Do Not Know What ESG Is: Poll

Most voters are unaware of the ESG movement, which advocates for investments to be used for political or ideological purposes related to the environment, society, and corporate governance. A recent survey by Harvard University and The Harris Poll found that 64% of registered voters have not heard of the movement, which could become a significant issue in the 2024 presidential election, particularly among Republicans. The survey also revealed that 52% of respondents believe investment managers should prioritize returns above all else, while 48% think they should consider climate and ESG.

ESG supporters argue that corporations should use their financial power to support policies that benefit the environment and society, while skeptics believe that this approach distracts companies from profitability. The survey showed that 63% of Republicans prioritize returns above all else, while 56% of Democrats believe fiduciaries can consider climate and ESG.

The results suggest that many Americans prefer their funds to be allocated in a politically neutral manner. A poll by The Daily Wire last year found that 64% of respondents believe individual investors should decide whether funds are appropriated according to ESG standards.

ESG has become a salient issue in recent years, with Republican state treasurers and attorneys general divesting state pension funds from asset management firms that promote the movement. Candidates for the Republican presidential nomination, including Florida Governor Ron DeSantis and Vivek Ramaswamy, have voiced their criticisms of the philosophy. Former President Donald Trump established a Labor Department rule that barred retirement managers from investing in accordance with the ESG movement, which was eventually reversed by President Biden.