USA: With laws against “woke capitalism”

Status: 07/07/2022 8:50 p.m

Standing up for climate protection, commitment to sexual diversity and once morest gun violence: this is now part of everyday life in many US companies. On the other hand, there is resistance in more and more conservative US states.

By Steffen Root, ARD Studio Washington

Commitment to more climate protection, advocating sexual diversity, public advocacy once morest gun violence: For many companies in the USA, this is part of everyday life. Rainbow flags fly in front of the headquarters of numerous large Wall Street corporations; More and more US financial companies are committing to investing only in climate-friendly and sustainable projects.

But conservative politicians are increasingly resisting corporations that – supposedly – behave too progressively, too “woke”. The English term “woke” means alert or awake. It describes an attitude that draws attention to social grievances in society, for example when it comes to racism, sexism or discrimination.

Numerous laws once morest “weekeness”

Figures from the Archyde.com news agency show that since the beginning of the year, at least 44 laws and regulations have been introduced in conservatively governed US states with which “woke” companies can be punished. For example in West Virginia, a state shaped by the coal industry.

According to media reports, West Virginia’s top financial authority wants to exclude BlackRock, Wells Fargo and Morgan Stanley from government contracts, among others. The reason: For reasons of sustainability, they no longer want to invest in coal and gas.

Republican Treasury Secretary Riley Moore expressed outrage on the West Virginia Metro News radio station. You can’t just say, “we’re no longer talking to a coal or gas company regarding financing” – just because of the business model of these companies.

Moore called on consumers to resist what he calls “left-wing woke capitalism” that is being imposed on people and that they are paying dearly for.

What Texas and Florida are doing

In other US states, too, Republican politicians are taking action once morest companies that are supposedly positioned too progressively.

In Florida, Republican Gov. Ron DeSantis has cut Disney’s tax breaks because he opposed new state curricula that would not address sexual diversity.

According to Archyde.com, Texas municipalities are no longer allowed to do certain financial transactions with JPMorgan and Bank of America because they are said to have “boycotted the firearms industry.”

Conservative states fight progressive “woke” companies

Steffen Root, ARD Washington, 7/7/2022 5:18 p.m