Our legendary editor Robert Bartley used to quip that it takes at least 65 editorials on a subject to really have an impact. We know what he meant after laboring in the vineyards lo these many years to draw attention in editorials to the politicized investing that travels under the bland label ESG, for environmental, social and governance.

Recent events show that the backlash against ESG investing has finally arrived. Nearby, Arizona Attorney General Mark Brnovich explains how he and 18 other state AGs are seeking answers from the investing giant BlackRock about its political agenda. BlackRock—a titan of passive investment funds—has been a leader in impressing ESG standards on the corporations it invests in.