The founder of the Boardroom Initiative, a partnership between the Job Creators Network, the Free Enterprise Group, and Second Vote, Rensi says his group aims to protect shareholders and employees of publicly traded companies from succumbing to woke corporate policies, as well as ensure corporate accountability.
The move comes as left-wing groups are reportedly buying up stock in businesses in an attempt to reform the board and push new leftist policies. And the further left they go, the higher their ESG seems to go, generating more profits for left-wing causes.
Members of the Free Enterprise Project recently bought up 2,000 shares of Bank of America to supposedly try to counter the company's new push in support of critical race theory (CRT), an anti-white ideology that is being taught all across America at public schools.
By adopting more left-wing policies, publicly traded companies are more likely to receive investment money from behemoth groups like BlackRock, which evaluate companies' "environmental, social and governance" factors when deciding where to invest.
Rensi is also joined by The Home Depot co-founder Bernie Marcus, who found the Job Creators Network and the conservative groups The Free Enterprise Group and Second Vote.
"Corporations have no business being on the right or the left because they represent everybody there and their sole job is to build equity for their investors," Rensi, 78, is quoted as saying.
"It is not the providence of board members or executives that take shareholder money profit and spend it on social matters."
While he does not consider himself to be politically active, Rensi says he cares about shareholders and does not want to see them taken advantage of or defrauded by woke infiltrators.
The Boardroom Initiative is taking aim at Bank of America, with plans to use its 2,000 shares as clout to call for a civil rights audit of the company's racial equity policies at the next annual meeting.
The banking giant was previously under fire for allegedly indoctrinating its employees with CRT. Christopher Rufo, a senior fellow and director of the initiative on CRT at the conservative Manhattan Institute, said last year that Bank of America's Market President in Charlotte, N.C., promoted CRT, which classifies people into two groups: "oppressors" and the "oppressed."
This same market president also created a new initiative called United in Action, in partnership with United Way of Central Carolinas, which deliberately put "marginalized" staff members over "privileged" staff members, meaning black and brown over white.
There was also a push to have Bank of America employees "decolonize their minds," which once again has strong anti-white connotations.
The Boardroom Initiative is also looking into claims that insurance giant Allstate is now denying coverage to companies with low Environmental Social Governance scores, which are assigned by investors based on a company's advancement of policies in the arena of "climate change," "diversity," and "social justice."
"Hopefully, the Boardroom Initiative is the beginning of a new era in corporate America in which extremes of ideological politics are set aside so that everyone can work on creating value for both customers and investors," says Richard Morrison, a senior fellow at the libertarian Competitive Enterprise Institute.
This move comes as there is growing backlash against the ESG scoring model used by BlackRock to direct funding specifically to companies that embrace far-left ideologies such as CRT.
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