Meta, Amazon, Google, and other US firms are shedding staff with environmental, social and governance roles (ESG), research shows, in the latest sign of the backlash against what critics deride as ‘woke capitalism.’
More people left ESG jobs than started them for much of 2023, marking the reversal of a once-mushrooming sector, according to Live Data

Technologies, which tracks the employment market.
US firms saw 3,071 ESG departures in December 2023, compared with 2,897 arrivals — a net loss of 174 roles, says the review of more than 360,000 US-based ESG professionals that was published in The Wall Street Journal.
Meta Platforms, Amazon, and Google had the largest ESG job outflows among US firms last year, the data show. The pattern was visible across other technology, financial-services and consulting firms.

It looks like the finance industry’s brief love affair with “responsible” investing is coming to an end. Investment managers are turning on Environmental, Social, and Corporate Governance investing. Speaking at the Aspen Festival of Ideas, BlackRock CEO Larry Fink announced he’d no longer be using the term “ESG.” This will be a huge hit to the ESG industry not simply because BlackRock is the world’s largest asset management company, but because it was a pioneer in promoting ESG investment.

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