The hearing concluded that ESG measures are harming the ability of businesses to provide financial returns, leading to negative impacts on retirees and pensions.
The controversy intensified as social media users began sharing more from Kohl’s pride collection, including a “Baby Sonoma Community Pride Bodysuit set” specifically tailored for 3-month, 6-month, and 9-month-old infants.
The company's shares have dropped by 9.21% on the New York Stock Exchange (NYSE) since last month, following controversy regarding their so-called "Pride Month" collection which includes merchandise related to the LGBTQ+ community.
After Ohio Republican Governor Mike DeWine requested federal assistance for disaster relief, the Federal Emergency Management Agency (FEMA) said, "Ohio is not eligible for assistance at this time," according to a statement from the governor's office.
Oklahoma Treasurer Todd Russ warned investment companies that they would lose access to state funds in two months if they fail to prove they are not involved in the environmental, social, and corporate governance movement, also known as ESG.
Resistance to environmental, social, and corporate governance investing is taking center stage in a number of Republican-leaning state legislative sessions this year.