Non-Profit Targets U.S.-Based Bank’s ESG Investment Strategies

July 25, 2023

Consumers’ Research, a nonprofit organization claiming to challenge “companies that have chosen to put woke politics above consumer interests,” announced in June 2023 that it was launching a publicity campaign against a global U.S.-based financial institution. According to the organization, Bank of America is pursuing an “ideologically driven agenda” and advocating “ESG fanaticism.” In a statement supporting the campaign, which includes national television advertisements, billboards in major U.S. cities, including one in New York City’s Times Square, and a dummy “Bank of America” website, Will Hild, CEO of Consumers’ Research, accused Bank of America of using its access to capital to help force a progressive political agenda. According to Hild, Consumers’ Research identifies Bank of America and its CEO as among the most outspoken lenders on climate-related topics, as well as other issues that some lump under the umbrella of ESG, such as gun laws, LGBTQ+ rights, and abortion and reproductive health protections. Hild also took issue with other measures taken by the bank, including calculating greenhouse gas emissions for clients and its internal diversity, equality and inclusion training.

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