Vast majority of swing state voters who are familiar with ESG scores support laws that would stop use of ESG scores by financial institutions and public companies
During the past decade, the use of environmental, social, and governance (ESG) scores for a multitude of purposes has increased rapidly. From evaluating whether or not financial services should be offered to ordinary Americans and businesses of all sizes to whether or not public companies will do business with Americans based on their political or religious values, ESG scores have become commonplace in societal decisions. More generally, the use of ESG-type scoring systems has become a worldwide phenomenon.
A few months ago, the European Union (EU) instituted one of the most far-reaching ESG programs, rivaled only by the Chinese Communist Party’s societal-wide ESG system. The EU’s Corporate Sustainability and Due Diligence Directive (CSDDD) will profoundly impact businesses throughout the United States, forcing them to adhere to rigid EU ESG standards.
The Heartland Institute and Rasmussen recently conducted a new national survey of likely battleground voters seeking their opinions on the EU’s CSDDD and the use of ESG scores in the United States.
By a slight margin, most likely battleground voters oppose EU legislative efforts to force U.S. businesses into adhering to the recently passed CSDDD. However, this issue splits along party lines with most Democrats favoring the EU’s quest to enforce CSDDD on U.S. businesses whereas Republicans strongly oppose the measure.
By a significant margin, most swing state voters support a law that would prevent U.S. businesses from having to comply with the CSDDD. Once again, Democrats and Republicans remain on opposite ends of this issue.
According to swing state voters themselves, only 32% are familiar with ESG scores. However, among those who are familiar with ESG scoring system, the vast majority (63%) would support a law that would stop financial institutions, including banks and insurance companies, from using non-financial ESG scores when determining financial decisions such as loans and access to other financial services.
Likewise, battleground state voters who are familiar with ESG scores strongly favor a law that would prevent large public corporations from refusing to do business with anyone based on their political views, religious practices, or associations.
The following statements from ESG experts at The Heartland Institute – a free-market think tank – may be used for attribution. For more comments, refer to the contact information below. To book a Heartland guest on your program, please contact Director of Communications Jim Lakely at [email protected] and 312/377-4000 or (cell) 312/731-9364.
“It gives me great hope to see that most battleground state voters reject attempts to both directly and indirectly enforce ESG scores from afar as well as here at home. ESG systems are fundamentally biased and do not align with the values of the United States. Even better, it is wonderful that the overwhelming majority of swing state voters, the very voters who will likely decide many pivotal races in the upcoming election, support commonsense laws that would prevent the widespread implementation of ESG scores in the United States.”
Chris Talgo
Research Fellow
The Heartland Institute
[email protected]
“The results of this poll are simultaneously worrisome and reassuring. It boggles my mind that 39 percent of battleground-state respondents are supportive of the European Union’s radical new ESG law, and that 33 percent would oppose any efforts by our government to prevent U.S. companies from being forced to comply with this new EU diktat. This should not be a partisan issue. Whether one is supportive of ESG systems or not, no American citizen should welcome the attempts of a supranational foreign government to eviscerate our country’s sovereignty and conduct an end-run around our democratic institutions.”
“And yet, it is reassuring that a strong majority (63 percent) of respondents who are familiar with ESG would support legislation that prevents banks, asset managers, insurance companies, and other financial institutions from using ESG to discriminate against companies and individuals who do not align with the objectives of the central planners responsible for the proliferation of ESG. These likely voters should ensure they support candidates who are in favor of strong anti-ESG measures, in the 2024 elections and beyond.”
Jack McPherrin
Research Editor
The Heartland Institute
[email protected]
The Heartland Institute is a national nonprofit organization founded in 1984 and headquartered in Arlington Heights, Illinois. Its mission is to discover, develop, and promote free-market solutions to social and economic problems. For more information, visit our website or call 312/377-4000.
Survey of 5,605 Battleground State Likely Voters (AZ, NV, GA, PA, WI, MI)
Conducted July 5-12, 2024, By Rasmussen Reports and the Heartland Institute
- The European Union Recently passed a law called the Corporate Sustainability and Due Diligence Directive. The law will impose strict environmental, climate, and social justice rules on many large businesses headquartered around the world. Under the new EU law, many large American businesses, as well as small and medium-sized companies in their supply chains, will be forced to adhere to European rules or else pay a large fine or face lawsuits.
Do you support or oppose legislative efforts by the European Union to control American business practices, such as the EU’s Corporate Sustainability and Due Diligence Directive?
19% Strongly support
20% Somewhat support
12% Somewhat oppose
36% Strongly oppose
14% Not sure
2. Would you support or oppose a U.S. federal or state law that would protect American companies from being required to comply with the European Union’s new supply chain law?
31% Strongly support
19% Somewhat support
16% Somewhat oppose
17% Strongly oppose
17% Not sure
3. Environmental, social, and governance scores — commonly called ESG — are a kind of social credit scoring system used by financial institutions, investors, and some governments. Are you familiar with ESG scores?
31% Yes
56% No
12% Not sure
Answered by the 1,808 respondents who are familiar with ESG:
- Would you support or oppose a law that would stop financial institutions like banks and insurance companies from using non-financial ESG scores when evaluating individuals and businesses applying for products or services, such as a loan?
44% Strongly support
19% Somewhat support
9% Somewhat oppose
19% Strongly oppose
9% Not sure
- Would you support or oppose a law that would stop large public corporations from refusing to do business with people based on their political or religious views, practices, or associations?
28% Strongly support
18% Somewhat support
12% Somewhat oppose
25% Strongly oppose
17% Not sure
NOTE: Margin of Sampling Error, +/- 3 percentage points with a 95% level of confidence
Chris Talgo is senior editor at The Heartland Institute and a research fellow for Heartland’s Socialism Research Center.
Jack McPherrin is The Heartland Institute’s research editor, as well as a research fellow within Heartland’s Socialism Research Center.
