'MASSIVE ECONOMIC DAMAGE': 17 States FIGHT Wall Street's ESG standards

• 17 states are challenging S&P Global, Moody's, and Fitch Ratings over their ESG policies.
• States argue ESG metrics are based on 'false and outdated climate predictions' that harm state credit ratings and increase borrowing costs.
• These policies allegedly penalize oil, gas, and coal companies, impacting state pension funds and diverting money from roads, schools, and pensions.
• Concerns are raised that American companies are downgraded while state-owned Chinese companies receive A+ ratings despite 'worse ESG metrics'.
• States have pressed the SEC to scrutinize these credit rating practices, hoping for regulatory intervention.

17 states are challenging major credit rating agencies (S&P Global, Moody's, Fitch) over their 'woke' ESG policies. They argue these metrics use 'false predictions' that unfairly penalize traditional energy companies and states, leading to increased borrowing costs and reduced investment, ultimately diverting funds from essential state services and pensions.