Environmental, Social, and Governance;
the latest click of tyranny's ratchet

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The globalists have us all balkanized - separated into "us" and "them".  They have us clutching our pearls and talking about the weather and the evils of plant food carbon dioxide.  They have us wearing useless masks and taking clot-shots and dropping dead in our 20's.  Now? They are trying to tie everything together with a pretty bow...
Welcome to ESG: Environmental, Social, and Governance

From American Thinker:

With ESG, Everyone's a Climate Activist
In 2019, 266 members of the influential Business Roundtable, including the world’s largest fund managers, bankers, communications carriers, even fossil-fuel companies at the risk of their own survival, signed off on a one-page statement reimagining the American corporation. It described a new paradigm of corporate social responsibility to its stakeholders, a perspective that elevates employees, contractors, and suppliers over the interests of profit-seeking shareholders whose investments underwrite a company’s financial health.  It presented a woke capitalist view of the new-age company as beholden to environmental and social whims of the political elite. 

A bit more:

There’s a lot of backslapping going on in the corporate world over Environmental, Social, and Governance (ESG) business strategies.  ESG provides the leverage used by governments to force-feed a progressive value system on corporations.  It is shareholder extortion, a corporate money pit pushed by the climate commissars at the UN and WEF that assures the erosion of shareholder investments.

And it is big money for them:

Sustainable ESG investing is blood in the water to Wall Street sharks. In 2020, ESG assets surpassed thirty-five trillion and are predicted to rise to fifty trillion by 2025.  For perspective, that’s one-third of all global assets under management.  Stock Exchange giants such as Morgan Stanley, flying under the ESG banner, MSCI, and Standard and Poor’s subsidiary effort, S&P Global ESG Index, have cooked-up a corporate guilt complex that has pushed the Fortune 500 placeholders in the direction of climate activism.

All subsidized with our taxpayer dollars.  Some people are pushing back.  I love that the State of Louisiana divested from BlackRock because of ESG.  It will be interesting to see the lawsuits as companies offering investments are supposed to operate for the benefit of the investors, not for the benefit of themselves and their shareholders.  A big legal distinction and one that they are failing to do.

Much more at the site.

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This page contains a single entry by DaveH published on October 10, 2022 5:47 PM.

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