In 2021, Texas passed two laws restricting state business with companies hostile to fossil fuels and firearms, banning investments in over 350 ESG funds. The anti-ESG movement gained momentum, targeting financial services and energy sectors, with the U.S. leading a global rise in anti-ESG sentiment per GlobalData.

Since Trump’s re-election, he has rolled back climate policies, passed orders banning ESG investing, and accelerated clean energy credit deadlines. His anti-climate actions have delayed $28B in projects, cutting 19,000 jobs, aligning with his first-term stance on climate policies.

Efforts to simplify EU regulations have led to anti-ESG sentiment, bolstered by global right-wing populism. Initiatives like SFDR and European Green Deal enforce ESG disclosure, impacting all industries. Big Oil firms like Exxon and BP are scaling back clean energy investments, citing lack of incentives and demand for hydrogen projects.

Read more at Yahoo Finance: Oil Majors Rethink Green Projects Amid Anti-ESG Push