Consumers’ Research Goes After Bank Of America Over ESG Policies

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Jack Moore Contributor
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Conservative organization Consumers’ Research is going after Bank of America for pushing environmental, social and governance (ESG) policies, new videos show.

Consumers’ Research launched a new ad campaign June 7 featuring two television ads, a Times Square billboard, several other billboards to be displayed across American cities and a new website based on the banking giant’s own official site, according to a readout from the nonprofit organization.

The ad campaign attacks Bank of America for “pushing political agendas in America” and propagating left-wing policies such as the bank’s net zero carbon emissions commitment and funding for employee travel costs to receive abortions. The ESG framework encourages companies to consider social and environmental factors in their investments and business operations instead of exclusively focusing on potential profit.

“We are putting Bank of America on notice,” Consumers’ Research executive director Will Hild said in a statement. “CEO Brian Moynihan has wielded the United States’ second-largest bank like a political club. Under his watch, the bank has brought China’s social credit system to American soil by using arbitrary ESG metrics to potentially lock individuals and businesses out of key banking services.” (RELATED: Tech Companies, Banks Crack Down On Anti-Mandate Convoy Supporters)

Consumers’ Research targeted financial giant BlackRock Inc. over ESG prior to launching the ad campaign against Bank of America, Bloomberg reported. CEO Larry Fink previously offered praise for high energy prices, arguing they would speed up the global transition to “green” energy and decrease the use of carbon-based fuels.

The new ad campaign slamming Bank of America is part of the nonprofit’s Consumers First Initiative, which focuses on “calling out companies who have chosen to put activist politics ahead of their consumers,” according to the readout.

The organization’s campaign against Bank of America is another action in a string of policies and movements targeting ESG nationwide. A number of states — including Utah, Texas, Florida and, most recently, Alabama — have passed restrictions on ESG-aligned companies and operating strategies in an effort to thwart the movement. Republican Kentucky Rep. Anthony Barr in March passed an anti-ESG bill in the House that President Joe Biden ultimately stopped with a veto.

Boycotts by consumers have dealt a serious blow to companies forwarding left-wing strategies in 2023. Bud Light parent company Anheuser-Busch faced serious blowback after advertising with transgender influencer Dylan Mulvaney, and Target has reportedly been bleeding money since pulling some of its LGBTQ-themed items geared towards transgender individuals for Pride Month.

“They can call themselves Bank of America, but the truth is that Moynihan and his crew have been working to undermine America at every turn,” Hild continued in his statement. “Bank of America simply does not have America’s best interests at heart.”

Bank of America said focusing on “responsible growth” allows the bank to “deliver industry-leading service to our 68 million American consumers, being a great place to work for our employees and supporting communities across the United States while delivering strong returns for our shareholders,” according to a statement cited by Bloomberg.