ESG Backlash:

Rebound in Europe

Social Bonds Defy Backlash

Explainer

Why ESG Faces Backlash and Its Future Under Trump 2.0

The BlackRock headquarters in New York, US, on Jan. 10, 2025. Chief Executive Officer Larry Fink was an early advocate of ESG. — The BlackRock headquarters in New York, US, on Jan. 10, 2025. Chief Executive Officer Larry Fink was an early advocate of ESG.Photographer: Michael Nagle/Bloomberg

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By Saijel Kishan and Tasneem Hanfi Brogger

February 4, 2025 at 7:37 AM EST

ESG. Three letters that have inspired, confused and angered.

They stand for environmental, social and governance, and refer to a strategy where banks and investors weigh factors such as climate change and labor conditions in their financing decisions.