Citi, Valero and ADT are telling shareholders that anti-ESG sentiment is a new business risk, as companies start to raise alarms about conservative attacks on socially conscious policies in their annual reports this year.
The bank, oil refiner and home security provider were among 11 companies that directly referenced “anti-ESG” in their 10-Ks for the first time this year, mostly under risk factors, according to a Bloomberg Law review of company filings with the Securities and Exchange Commission. Many of the companies mentioned anti-ESG risks in connection with state government actions and activists.
Source: Citi, Valero, ADT Flag New Investment Risk: the Anti-ESG Effect
