Friday, March 24, 2023

ESG Loving Youngkin Now Anti-ESG


Florida Governor Ron DeSantis’ recently announced anti-ESG alliance has grown with the addition of Virginia Governor Glenn Youngkin. 

The story missed two things with this characterization of the Virginia Governor:

Governor Youngkin is the former CEO of the Carlyle Group....If Youngkin can convince the General Assembly that ESG is harmful to state investments

Youngkin was co-CEO of Carlyle and very pro-ESG.  In a "2020 Impact Review" letter Youngkin and Kewsong Lee stated:

This work remains grounded in our long history of ESG integration, as we believe that strong ESG competencies are hallmarks of management excellence. This commitment is critical for investment performance...

...we have increased the transparency and detail of our own corporate ESG disclosures through our first Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB) disclosures...

Another Youngkin flip-flop.   When it padded his pocketbook Youngkin loved ESG.  

It's even signed...

 Politicians Red and Blue love PEU and increasingly, more are one.  Watch out for Slippery Glenn.