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John,

Republicans have traditionally billed themselves as defenders of the free
market and opponents of government constraints on business.

But in red states around the country, elected officials are working to punish
private companies for even considering the risks of climate change in their
business decisions.

In an op-ed published this morning, Mike calls out legislatures and governors
who "don't seem to understand capitalism" and "are standing in the way of the
most powerful force we can muster in the fight against climate change: the
private sector."
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Read Mike's op-ed: "On Climate Change, Republicans Need a Crash Course in
Capitalism"
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Rather than letting the market guide business decisions, Republicans are
targeting investment strategies that consider environmental, social, and
governance factors, also known as ESG. In particular, Mike writes, red state
leaders take issue with the "environmental" in ESG:

Texas has adopted a law restricting the state, localities, and pension boards
from doing business with financial firms that seek to limit their exposure to
fossil fuel companies... Oklahoma has enacted a similar law, and other
Republican leaders are moving in the same direction. Last month, Florida's
Republican governor, Ron DeSantis, supported a resolution barring pension fund
managers from considering ESG factors.

These laws are coming at a time when climate-related disasters -- from extreme
heat and historic droughts to massive storms and catastrophic flooding -- are
upending crop yields, disrupting supply chains, straining energy grids, and
costing upwards of $100 billion in damage each year.

"The fact is: Climate risk is financial risk," Mike writes. Will you take a
moment to read and share Mike's op-ed today?


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Thanks,

MikeBloomberg.com


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Mike Bloomberg

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