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The Republican-controlled House of Representatives voted on Tuesday to block a proposed Labor Department rule which would have given retirement account managers the ability to use political stances and ESG scoring to influence investment decisions, according to The Blaze.
ESG scores are still controversial being that they impress a social credit-type system onto businesses around the globe, ranking companies based on their political involvement in environmental, social, and governance movements.
The World Economic Forum (WEF) encourages the use of this scoring system to promote “equity,” “diversity,” and Green New Deal ideologies.
In July 2022, America First author and culture critic James Lindsay warned that ESG scores are used to weaponize political activist groups. He stated, via The Epoch Times, “They have the leverage to be able to use this like a … financial gun to the head of any corporation that doesn’t do what it wants them to do.”
He also stated that, “it’s racketeering is what it is, is just criminal racketeering, using what looks like a responsible measurement tool as the mechanism,” and warned that this system is designed for a one world government instead of protecting Americans’ constitutional rights.
Rep. Ben Cline, R-Va., tweeted about the decision on Tuesday, stating, “Joe Biden is WAGING WAR against American workers’ hard earned retirement savings.”
The Senate is expected to vote on whether they support the new rule or will also block it on Wednesday.
