Conservative lawmakers on the state level have been a wrecking ball this year to the environmental, social, and governance (ESG) investing movement, as well as other ‘woke’ trends, including DEI (diversity, equity, and inclusion) and CRT (critical race theory).
South Carolina State Treasurer Curtis Loftis is taking a stand against radically left-leaning mega-corporations by removing Disney from the state’s investment portfolio.
“Disney has abandoned its fiduciary responsibilities to its investors and customers by joining far-left activists in boycotting legal, taxpaying, employment-creating corporations to further Disney’s political agenda,” Loftis said in a statement.
The State Treasurer’s portfolio contains about $105 million of Disney debt that will mature and not be replaced. Loftis will be heavily scrutinizing the equity side of the portfolio in the coming weeks.
“Multi-billion-dollar corporations should not engage in boycotts designed to silence legitimate debate,” Loftis said, adding, “Since America’s founding, freedom of speech has been one of its core principals, and Disney should not engage in nefarious practices aimed at silencing those with less power and…
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