Fourteen state treasurers on Wednesday called on the Business Roundtable to reject woke activism and focus on making corporations politically neutral.
In a letter to the Business Roundtable, 14 state treasurers said: Claimed The group said the company had moved leftward after it redefined its purpose in 2019 to focus on supporting stakeholders, including left-leaning groups such as Black Lives Matter.
WATCH — Joy Reid: DEI is a “good thing,” but saying Harris was picked for DEI is racist:
“After five years of dismal failure, the Business Roundtable's attempt to redefine the purpose of corporation (the 'Redefinition') should be consigned to the 'ashes of history,'” the state treasurer said. Claimed.
They continued: “As state treasurers responsible for many state and provincial superannuation investments, we urge you to abandon this fatally flawed redefinition and return to the objective of maximising value for our owners – our shareholders.”
The Business Roundtable doubled down on its support for left-leaning stakeholders in a blog post this month, saying, “In the long run, the interests of corporate stakeholders are inseparable. None of them succeed unless all of them succeed.”
“This is not a call for companies to address every societal challenge, but rather to focus on the people who directly contribute to their company's success. In the long run, the Roundtable CEOs believe this will make companies more successful and foster broader economic opportunity,” the Business Roundtable wrote.
WATCH — Dershowitz: DEI is actually an arm of anti-Semitism:
The state treasurers wrote that the Business Roundtable's implicit support for environmental, social and governance (ESG) and diversity, equity and inclusion (DEI) policies led to the DEI metrics and racial quotas.
“By refocusing our focus on our shareholders, we will be able to better serve our stakeholder employees by hiring and retaining the best candidates, regardless of race,” state officials wrote. lEqual competition will disappear.”
“Organizations of all kinds are under pressure to stray from their purpose and serve left-wing ideology, and in the case of corporations, doing so destroys shareholder value. It is more important than ever to be honest about your company's purpose and your role, and to 'don't lie',” he continued.
Daniel Cameron, CEO of 1792 Exchange and former Attorney General, said: Breitbart News Daily Host Alex Slater asks how many companies are abandoning their DEI and ESG policies.
Kudos to Hal Lawton, CEO of Tractor Supply Co. We are seeing companies like John Deere, Harley Davidson, Brown-Forman (Jack Daniels) making decisions and many in the tech industry moving back to the center on issues like ESG and DEI. They are dropping DEI policies because they know that at the end of the day, companies don't have to be built on diversity, equity, and inclusion, they have to be built on merit, excellence, and intelligence.
listen:
Lowe's also recently made changes to some of its DEI policies following legal attacks on its diversity programs and pressure from activists.
“An important step you can take is to withdraw your company's signature from the redefinition,” the treasurers concluded in their letter to the Business Roundtable. “The next step is for the Business Roundtable to issue an updated document that accurately reflects the purpose of corporations and reminds people of the incredible benefits business brings to society without becoming a political promoter or enforcer.”
Sean Moran is a policy reporter for Breitbart News. Follow him on Twitter. Sean Moran 3.
