Cotton: ESG Movement Benefits China, China ‘Probably’ Funds It Like Russia Funded Anti-Fracking Push

On Thursday’s broadcast of CNBC’s “Squawk Box,” Sen. Tom Cotton (R-AR) argued that China is probably underwriting the ESG movement the same way Russia funded anti-fracking movements, but that the ESG movement is benefitting China by engaging in the “geopolitical catastrophe” of underwriting “the energy industry of our main enemy, while we are strangling our main source of energy.”

Cotton said, “[N]ot only is China probably funding it like Russia has funded the anti-fracking movement in the west over the last 20 years, but they are benefitting from it. China is the world’s largest producer of so-called green technology, largely through state subsidies and other mercantilist policies. America is one of the world’s largest producers of oil and gas. It would be a geopolitical catastrophe for us to underwrite the energy industry of our main enemy, while we are strangling our main source of energy.”

Follow Ian Hanchett on Twitter @IanHanchett