Conservatives Attack Companies for Being Too ‘Woke’ on Climate –

Yet even as the rhetoric heats up, and executives brace for more attacks by Republican politicians, most companies and investment firms are standing their ground. Many corporate leaders say that, as a long-term strategy, it is in their best interests to invest in climate solutions and their work forces — and worth the uncomfortable public relations moments in the short term.

Laurence D. Fink, the chief executive of BlackRock, the world’s largest asset manager, is a frequent champion of E.S.G. He defended the firm’s policies in his annual letter to chief executives this year.

“Stakeholder capitalism is not about politics,” he wrote. “It is not a social or ideological agenda. It is not ‘woke.’ It is capitalism, driven by mutually beneficial relationships between you and the employees, customers, suppliers, and communities your company relies on to prosper.”

‘The ongoing culture war’

Tensions between conservative and corporate America have been growing for years. After the election of former President Donald J. Trump, many chief executives found themselves at odds with the White House on issues including immigration, race relations and efforts to mitigate climate change by reining in oil and gas production and use.

Now, in addition to staking out policy positions that are unpopular with many Republicans, big corporations and investment firms are working to integrate E.S.G. more deeply into their businesses.

Rarely do the setting of such goals result in swift and dramatic changes to how firms operate. And indeed, many companies are accused of greenwashing — touting their commitments to E.S.G. without instituting any real reforms.