News
Is the GOP War on ‘Woke Finances’ Delaying Climate Action?
Red states are trying to block money managers from considering climate change when investing in utilities. Recent evidence suggests that political pressure could be swaying investors.
By Kristoffer Tigue
Republican-led states are asking federal regulators to block the world’s largest investment firm from imposing climate-related financial practices on utilities. While the GOP’s war on so-called “woke finances” has had limited success in stemming the flow of money into clean energy, there’s growing evidence the political pressure could be delaying climate action.
Related Knowledge Center: Climate legislation
State of Play
The federal government and states are in the process of implementing two laws — the Infrastructure Investment and Jobs Act and the Inflation Reduction Act — an investment of more than a trillion dollars to address climate change.