The Republican war against corporate America may be hitting its political ceiling. A spate of recent polling — as well as a setback for the state-level anti-ESG campaign — suggests that attacking Wall Street over climate and social concerns has limited upside for GOP politicians, even in the Republican presidential primary. Florida Gov. Ron DeSantis appears to be personifying this dynamic. His campaign against the “woke mind virus” has failed to get him within striking distance of the GOP nomination. Let’s look at a few numbers: — About 57 percent of GOP primary voters said in a June Morning Consult poll that companies are doing the right amount to promote social equality and acceptance in the U.S., not enough or that they have no opinion. — About 65 percent of Republican primary voters in a July New York Times/Siena College poll said they prefer candidates who focus on “restoring law and order in our streets and at the border” over those who prioritize “defeating radical ‘woke’ ideology in our schools, media and culture.” — And perhaps most telling: About 52 percent of GOP primary voters in the Times/Siena survey said they are more likely to support a candidate "who says that the government should stay out of deciding what corporations can support.” Thirty-eight percent prefer a candidate “who promises to fight corporations that promote ‘woke’ left ideology.” GOP pollsters and strategists told MM the data may reflect discomfort among Republicans who are wary of the government intervening in business. “The populist side [of the Republican base] is happy to go after any large institution, whether it’s a company, whether it’s government,” said Jon McHenry, a Republican pollster. “The more establishment, more traditional wing of the party doesn’t really want government getting involved in it.” “Republicans are overwhelmingly concerned that we’re going to have too much regulation around these issues,” he said. It raises questions about how much further Republicans on the House Financial Services Committee will lean into anti-ESG efforts, after spending much of July targeting climate and social investing. “Congressional Republicans have squeezed most of the juice that they’re going to be able to get out of corporate wokeism on ESG issues for now,” said Republican strategist Ron Bonjean, who has researched GOP voter sentiment on ESG. A live case study may have just played out at the annual meeting of the American Legislative Exchange Council, a group of conservative state lawmakers. Our Jordan Wolman reports that the group decided against considering a measure that would have prohibited states from doing business with companies deemed to be boycotting fossil fuels. To be sure, the Republican attacks on ESG are still having an impact on corporate leaders, even if they don’t resonate with voters. Multiple analyses have found that companies' mentions of ESG and diversity initiatives on earnings calls are declining. It’s Tuesday — RIP to William Friedkin. “The Exorcist” is probably the best Washington movie, though Zach would rather rewatch “The Exorcist III.” Let us know what you think: Zach Warmbrodt, Sam Sutton.
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