Woke capital: How a liberal financial movement stokes fears of a surveillance state

The rising influence of a woke investing movement that pressures companies to adopt left-wing political causes has policymakers and industry experts warning that the U.S. could be on the path to a Chinese model of monitoring the behavior of businesses -- and even individuals.

The movement called environmental, social, and governance (ESG) investing, which is based on the concept that investors should use these three broad categories when evaluating where to put their money, prioritizing progressive values and "social responsibility" when making financial decisions.

According to Utah Treasurer Marlo Oaks, one of the nation's leading voices pushing back against the movement, embracing ESG could end up restricting personal freedom and infringing on private enterprise.