“We do not expect anti-ESG headlines to meaningfully impact opportunities for investors, for two reasons. First, fundamental drivers supporting the SI (sustainable investing) thesis remain in place; consumer focus remains steadfast (between 2017 and 2022, products with ESG claims grew 1.7 percentage points faster than peers, according to McKinsey), while the cost of inaction can compound (for example through increasing insurance costs due to climate-related events, as we discuss in the next section in this report). Furthermore, US federal- and state-level funding such as those included in the Inflation Reduction Act (IRA) and the CHIPS Act support companies tied to sustainability strategies, as we discuss in our Made in America report, published 27 June 2023.”

[COMMENTARY] It is clear to me that the pressures on corporate profitability and survivability will require increasing attention to ESG issues — even if they go under some other name.
US anti-ESG discourse implications, by UBS Editorial Team, July 18, 2023, UBS Wealth Management USA, USA.