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It is inevitable that soon in the new year various House committees will start hearings to address what some members of the GOP regard as the threat ESG represents to investor returns, America’s oil and gas industry, energy security, equal opportunity for all, and even America itself. I certainly don’t want ESG to be damaging to America. thus, I am very much looking forward to these hearings so we can get all this cleared up. But for them to be as productive as possible, these esteemed Members of the House of Representatives need to call in the most serious miscreants. So far, their focus has been on investors, especially the Big Three of BlackRock, State Street Global Advisors (SSGA), and Vanguard.

Companies should also be taken to the task. They are either succumbing to the siren song of ESG being pushed by progressive left-wing investors or, even worse, might even be enablers by trying to convince them that ESG is good for business. What temerity!

Here I can be helpful by calling out the company NextEra Energy Resources based in Juno Beach, Florida. It is so ESGy and Woke it almost takes my breath away. Thus I suggest that its Chairman, CEO and President John W. Ketchum and its subsidiary Florida Power & Light Company (FPL) Chairman, President and Chief Executive Officer Eric Silagy be hauled into Congress for some harsh and pointed questioning. As one indication of just how egregious this company is, I learned that Mr. Silagy was the chief of staff for Democratic (😱) Sen. J. Bennett Johnston of Louisiana. Let me also call out the obvious fact that NextEra is blatantly flaunting its ESG ways in Governor Ron DeSantis’s own state! This is yet another problem he needs to address. I wrote him a helpful memo on Thanksgiving Day about another one. Ron, I’ve got your back in your anti-ESG campaign!

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Robert G. Eccles

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Robert G. Eccles of Saïd Business School, University of Oxford is the author of a number of books on integrated reporting, sustainability and the role of business in society. His focus is on sustainability from both a company and investor perspective. Professor Eccles is also involved in a variety of initiatives to embed environmental, social, and governance (ESG) issues in real world decision making. One of these is the Sustainability Accounting Standards Board (SASB), of which he was the founding chairman. In 2018, Professor Eccles was selected by Barron’s as one of the top 20 influencers on ESG investing.

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