Amid the ongoing backlash against Environment, Social, and Governance (ESG) policies in corporate America, multiple organizations have been distancing themselves from “woke” capitalism. The latest company to drop ESG from its vocabulary is McDonald’s, which has purged all references to the policies from its website.
“ESG” refers to investment strategies that prioritize advancing environmental causes, social justice issues, and governmental compliance. Backed by asset management groups like BlackRock, these policies became the driving force for left-wing agendas in corporate culture—which has now prompted an enormous cultural backlash.
As Valuetainment reported earlier this week, S&P Global, one of the world’s largest raters of corporate debt, announced it will no longer include corporate ESG scores in its debt ratings.
On Friday, it was discovered that McDonald’s became the latest company to follow suit, with various portions of the corporate website being quietly updated. The “ESG Approach & Progress” page now reads “Our Approach & Progress” without much of a change to the content. Similarly, the page previously titled “Performance & ESG Reporting” is now “Goal Performance and Reporting” and “environmental and social issues” has been substituted.
However, while the abbreviation itself has been mostly erased, the policies it brought with it still remain very much in place, and McDonald’s reaffirmed its commitment to reporting its progress on social and environmental goals.
WATCH: Patrick Bet-David and Joe Rogan discuss BlackRock’s Influence on corporate America.
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