Bank CEO Embraces ESG Investing Despite 'Woke' Backlash

Standard Chartered chief executive Bill Winters says environmentally conscious investing can be good for business, dismissing the impact of a U.S. crusade against mission-driven investments.

His comments come at a time when investments based on environmental, social and governance (ESG) factors have become a politically polarized issue.

In the United States, for example, Republican lawmakers have decried ESG as a form "woke capitalism" that seeks to prioritize liberal goals over investment returns.

Democratic lawmakers have sought to push back, however, describing attacks on a range of ethically responsible business practices as "an attempt to manufacture a culture war and protect corporate special interests."

Analysts expect the outcome of this year's U.S. presidential election to determine whether the political backlash against ESG will have a deep and lasting effect.