ESG doesn’t just hurt financial returns by investing clients’ money in less-profitable firms, it
also does so by refusing to provide capital to companies in industries with higher profit potential that don’t comply with, or conform, to ESG ideology, Rep. Donalds explained at a House Financial Services Committee hearing. “That kind of chilling effect is not what the free market was ever created to do. That chilling effect is something completely different, which is an anathema to the free market,” Donalds said.
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