The most important thing to know about ESG is that Klaus Schwab of the World Economic Forum openly admits to forcing the world into it. archive.ph/vQUYG
In this thread we’ll explore what the hell is going on.
https://threadreaderapp.com/thread/1552060421011652608.html
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The MAIN player of introducing ESG to the world is BlackRock. “BlackRock is the world’s largest asset manager, with US$10 trillion in assets under management as of January 2022.” archive.ph/0Emme
Earlier this year I explored the overwhelming ownership power of companies that Blackrock has, as well as their political leverage within the Biden White House.
Reading that as background will help with understanding ESG.
Some places say ESG has been big since 2013 and earlier. archive.ph/rNHMT
But the truth is: Blackrock popularized the idea in 2019 archive.ph/d4Rm9 and they and the World Economic Forum pushed it on society amid the pandemic.
In Blackrock CEO Larry Fink’s 2019 letter he argued wokeness was stability. archive.ph/UXLxv
“This lack of preparedness for retirement is fueling enormous anxiety and fear, undermining productivity in the workplace and amplifying populism in the political sphere.”
Blackrock’s 2020 letter threw climate change in the mix. “In the near future – and sooner than most anticipate – there will be a significant reallocation of capital,” they wrote to the world’s CEOs. archive.ph/Fh4T0
Blackrock published a PDF in January 2020 that announced their modern ESG framework, adding the UK and European Union were on board with “mandatory reporting for climate risk.” web.archive.org/web/2020060404…
Fast forward a few months and the WEF published a PDF backing ESG too. They wanted to convince people ESG was relevant. “In September 2019, we began a process of building an effective ecosystem for ESG aimed at advancing the state of ESG reporting.....” www3.weforum.org/docs/WEF_Embra…
^^At one point the WEF admits that “activists and NGOs” have been able to pressure businesses, so corporations needed to essentially shield themselves now, through ESG. They prop up BLACKROCK as well.
ESG is an effort by the WEF and Blackrock (+others) to shift towards a “stakeholder capitalism” system: pursing political goals through economic pressures to force their consensus. archive.ph/twqri
It’s not just Blackrock and the World Economic Forum. Vanguard is in on it too. archive.ph/tuLmd archive.ph/uxqmU archive.ph/6ZpYW
In 2019, 181 top business CEOS came together to commit to the “stakeholder” agenda of ESG. archive.ph/Bh1S6
That number has grown since then. archive.ph/cC8ff
To thousands. archive.ph/Cqmnt 🚨🚨It’s a full-blown economic shift.🚨🚨
ESG has been compared to China’s social credit system by some. archive.ph/F4ml8
But others argue that “ESG investing” is performative virtue signaling, even at face value. archive.ph/jMmiO
The CEO of Johnson Controls told the WEF that ESG is even involved in “redesigning supply chains.” What I’m trying to say is ESG has/will impact on every aspect of our daily lives.
Elon Musk tried warning large funds about how ESG is focused on dollar value and NOT positive impact on the world, and how that in turn that MISLEADS investors. archive.ph/r2h5F archive.ph/jDiB2 archive.ph/Gx3En
Telsa was removed from the S&P 500 ESG Index a short while later, in a total coincidence. Issues related to “carbon strategy” and “business conduct” scoring were cited as why. archive.ph/I30nq archive.ph/u7EAD archive.ph/v45T1
ESG is modern political posturing for the sake of serving “Big Finance.” In the pursuit of power. Not altruism. You can interpret it as much from both CNBC’s sugar-coated words, as well as Glenn Beck’s blunt description of what it’s all about.
One of the ESG’s most vocal opponents is James Lindsay (@ConceptualJames). archive.ph/9tvFt
He has been exposing the flaws of the system for years now.
But YES to state something obvious: the World Economic Forum and Klaus Schwab thinks it’s VITAL for companies to support Black Lives Matter for the sake of improving their ESG scores. (Page 32). www3.weforum.org/docs/WEF_IBC_M…
That is to say: if the “E” is about climate change? The “S” in ESG is about serving the goals of political wokeness in companies. archive.ph/o3j87
But ESG is also more than the sum of its letters. ESG is about CONFORMITY not only politically, but economically. Both at the same time. archive.ph/ZDwF8 archive.ph/uo60d
The collapse of the Sri Lankan economy can be traced back to ESG policies, as a 2021 chemical fertilizer ban created a ripple effect.
In August 2018 the Sri Lanka PM (now President) promised in a WEF article to make the country rich by 2025 via ESG methods... archive.ph/6s7ay it only took until 2022 for everything to go to shit. archive.ph/cjozh
“In the Rajanganaya region [...] families reported 50 percent to 60 percent reductions in their harvest.” “We don’t have enough chemical fertilizers [...] because we didn’t import them. There is a shortage.” commonsense.news/p/sri-lanka-ju…
The important thing is I establish the collapse of Sri Lanka is ESG related. Yes I can confirm the collapse of Sri Lanka is ESG related. Here you go. archive.ph/lLECL
“Supporting fertiliser production in developing nations would be inconsistent with the EU energy and environment policies,” Reuters reported, explaining the stance of the European Union. archive.ph/nRLJZ
(Ukraine upended ESG initiatives A LOT, but more on that later.)
Despite the Ukraine war straining the world food supply — the Netherlands moved forward with plans to “reduce nitrogen” — forcing Dutch farmers to make severe cuts to their livestock and resources. archive.ph/gI9q1 archive.ph/cMFgH apps.fas.usda.gov/newgainapi/api…
In one case: “New environmental regulations will require him to slash his livestock numbers by 95 percent. He thinks he will have to sell his family farm.” archive.ph/fS0Wx
“My good friend Professor Schwab outlines an inspiring way forward in making the global economy more equitable, sustainable and future-proof.” — Mark Rutte, PM of the Netherlands archive.ph/gTNwQ
South Korea cancelled coal plant projects in Southeast Asia and elsewhere after Blackrock caused a fuss. blackrock.com/corporate/lite…
That’s how much Blackrock’s thumb is on the scale. archive.ph/IiXV1
India tried to introduce ESG regulations and restrictions on coal mines. archive.ph/65D4v archive.ph/yOivf archive.ph/V3zOR
But given their dependence and the circumstances of the last couple of months, they’ve had to back off. archive.ph/9Dkiv
The Hongkong and Shanghai Banking Corporation (HSBC) had to deal with the same “activist investor” push against their fossil fuel energy projects too. archive.ph/NbMr2
ESG funds invest in wars in places like Myanmar. inclusivedevelopment.net/myanmaresgfile…
Which in itself further proves its not about altruism. It’s about “looking good,” and people don’t give a HOOT about wars in third world countries. archive.ph/RK8Bx
“ESG considerations account for much of the decline in capital expenditure by international oil companies in recent years and the investor exodus out of oil and gas markets.” archive.ph/cpbBo archive.ph/A1Cs9
ESG explains how and why tech giants like Google bowed to GREENPEACE to stop fossil fuel ventures, but hypocritically also have solar panel waste to deal with. archive.ph/wpLyo
Even a European Union watchdog recognized that Blackrock was a conflict of interest in being both a EU “adviser” of ESG, while also profiting in that same field. archive.ph/NR28V archive.ph/Ivf8O#selectio…
Now. The ESG powers-that-be used to NOT take nuclear energy seriously for its potential. esgclarity.com/why-is-nuclear… archive.ph/F9C7k
That includes Blackrock. archive.ph/NKZgx
^^The European Union changed their mind at the beginning of July, saying “some” nuclear and natural gas can be “green.” A desperate move that exposes how completely arbitrary ESG rules are. archive.ph/9Bcod
Once the Russian invasion of Ukraine happened? Blackrock was like “HOLD UP. Lets reverse our energy policy a bit.” In my opinion: Blackrock just don’t want you to blame them for getting the world in the ESG mess in the first place. :^) archive.ph/ZvJj8
^^Some ESG groups changed rules to allow “defense stocks” investment again, at the invasion’s onset. archive.ph/VTgfU archive.ph/bSPQK
But months later? People are expressing doubts about ESG altogether. archive.ph/IGe3F archive.ph/8SpQk
Home Depot’s ESG score was impacted by being “TRUMP INVOLVED.” csrhub.com/CSR_and_sustai…
I bet that “SPECIAL ISSUE” is different from Hasbro’s “diverse board” and “working mother-friendly” tags. csrhub.com/CSR_and_sustai…
You can TRY to look at ESG scores to learn things. Places like banks seem to score higher than energy companies/manufacturing with many found at the bottom. sustainalytics.com/esg-ratings
... but ESG raters all have different methods. It’s really confusing shit. Take Home Depot as an example.
Are they:
> 87? csrhub.com/CSR_and_sustai…
> 12.6? sustainalytics.com/esg-rating/the…
> or AA? msci.com/our-solutions/…
^So why even bother? As @ConceptualJames pointed out: Disney’s high ESG rating didn’t stop their stock from TANKING a few months ago because of their clash with Florida. archive.ph/pARCh
All kinds of companies have jumped aboard the ESG train. Tobacco. archive.ph/Hjnmn VMware. archive.ph/D9qGr Experian. archive.ph/tp5u9 The Teamsters. archive.ph/5fpdZ
> Be you
> Drinking a Coca Cola
> Play World of Warcraft
> ESG IS THERE TOOOOOOOOOOOOOOOOO archive.ph/ScXOo archive.ph/ICGnE
ESG is on your cruise ships. archive.ph/jxWjl
ESG is in your anime. archive.ph/E86ty
Look all the PDFs on Pearson’s website in their ESG section. Someone’s job is to type up the company’s glorified bragging for political correctness crap. plc.pearson.com/en-US/purpose/…
ESG. Everywhere. archive.ph/02hgr archive.ph/9Giql archive.ph/GUYYU archive.ph/tXPYB archive.ph/Z9Rwt archive.ph/kzSSm
ESG explains the forced shift into an age of corporations moral preaching, and the accelerated push towards more political correctness in all parts of society. archive.ph/6YteP archive.ph/9mV13 archive.ph/V4GB3
Yes. ESG in all parts of society means crypto too. archive.ph/KxjRv archive.ph/75kft archive.ph/kTZr9
It’s not a “conspiracy” if it’s out in the open. ESG brings together the USA and European Union into the clutches of the World Economic Forum. archive.ph/fHnuo
Trump’s Department of Labor made a rule saying ESG retirement funds would have to PROVE that ESG abided by Section 404 of the Employee Retirement Income Security Act of 1974 (ERISA).
The Biden administration decided to *IGNORE* said ruling. realclearpolitics.com/docs/2021/rupe…
.... in fact the Biden administration is trying to ALLOW ESG activist funds to *play with the retirement money of Americans.* archive.ph/OADZD
Last November, the SEC issued a policy letter that threatened to come down HARDER on companies who try to fend off ACTIVIST ESG PROPOSALS from shareholders. archive.ph/S2TDA
This is how the Biden administration is *ALSO* attacking farmers. By having the SEC force ESG rules for “climate-related disclosures” onto their doorstep. Farmers aren’t happy. Congress isn’t happy. archive.ph/QbOWt
Unsurprisingly, people are VERY VERY against the moves made by the SEC. The general public for one. archive.ph/NFljo
US business leaders, another. esgtoday.com/u-s-business-l…
They don’t want this to go further.
Some states are pushing back against ESG. archive.ph/jdCSO
insidesources.com/states-push-ba…
Others might be open to the idea. archive.ph/xYxuQ You know how it goes.
This blog post from Marlo Oaks, Treasurer of the State of Utah, was certainly eye-opening, though. Read what “Twoogle” did. thenakeddollar.blogspot.com/2022/04/esg-po…
IMPORTANT TO NOTE: ESG is pretty screwing over **ONLY** the western world. Countries like China couldn’t give a DAMN and are probably laughing at the rest of us. archive.ph/bCo8A
(Just to clarify: what I mean is China is their own separate marketplace sphere, really. Enough to distance themselves from most ESG nonsense.) UNLIKE EUROPE. archive.ph/IRSo8 archive.ph/cRUMB
You can look up high ESG scores by COUNTRY and not just COMPANY, which adds another layer to this discussion. intelligence.weforum.org/topics/a1G6800…
worldeconomics.com/Country-Data
ESG in the UK archive.ph/JxuHi. Thailand archive.ph/9aO6E. Africa archive.ph/XoOUF. Even Antarctica archive.ph/9KvMg.
If there’s only one tweet you take away from this ESG thread let it be: ESG has infiltrated the world markets archive.ph/1C55d and it has business CEOs doing politically “woke” stuff for glorified brownie points archive.ph/STGkr.
And as @ConceptualJames has outlined: it’s not just environmental “feel goods.”
ESG is about enacting a far-left political agenda in companies archive.ph/eCgyX. And people make SEVEN FIGURE SALARIES off of it archive.ph/ghrrG.
The ESG scam:
> Be logger
> Buy forest land
> Get paid by Tennessee to NOT cut it down
> BUT ALSO: get paid AGAIN to “sell carbon credits” to companies, too. archive.ph/k4Anp
^^ So it bears repeating: ESG IS A SCAM. archive.ph/k4Anp#selectio…
There are (MUCH BETTER THAN MINE) thoughtful ESG critiques like this one linkedin.com/pulse/esg-road… which deeply explore the ESG hypocrisy and how it DESTROYS the concept of “free markets.”
.....even though California’s corporate board diversity requirements were WOKE on paper and good for ESG, they were declared UNCONSTITUTIONAL archive.ph/VL2vT.
......... I DONT HAVE AN END FOR THIS ESG THREAD. But the perfect ending would be having me explain how the world realized that ESG is a MASSIVE mistake, and that they got rid of it. That hasn’t happened. Yet. Make it happen.
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All of Wall Street is complicit in crimes against humanity due to enforcing the ESG scam. They like the criminals in DC should face justice just like Gates, Fauci et al... Using economic power to bypass the voter is what DeSantis called it and he is correct, but it is even worse.
Biden has at minimum (est.) 5 BlackRock alum in his administration and that doesn’t count how many are in the other DC swamp branches like the SEC or CFTC.
Note: the linked op-ed has graphs, media sources and archives as well.
One sniper could resolve a lot of the world’s problems regarding WEF.
All the Trips to Davos Have Gone to Larry Fink’s Head
Excerpt:
.....In what is, so far as I know, the BlackRock CEO’s most recent act of public grandiloquence, he and BlackRock have urged the Securities & Exchange Commission (SEC) to modify its proposed greenhouse-gas emissions disclosure rule.
That standard Fink megalomania comes not from the request itself, but from its grounds. He does not ask that it be withdrawn because it is illegally beyond the SEC’s statutory remit, though it surely is, especially in light of a recent U.S. Supreme Court ruling. He doesn’t seek its withdrawal because it will create massive expense for no possible benefit, though that’s true too. He doesn’t even oppose the rule because it will harm small farmers, small businesses and small investors while aggregating wealth and opportunity to his own private-equity class. (Well, no: of course not that.)
Rather, Fink’s objection to the rule is that it deviated from the disclosure demands that have issued from him – from him and from Mike Bloomberg and from the self-appointed New Ruling Class – embodied this time as the Task Force on Climate-Related Financial Disclosures (TCFD). These new malefactors of great self-regard, you see, don’t care for it when representatives of elected government dare to contradict the commandments of the World Economic Forum (WEF) set.
Mind you, the SEC’s proposed rule does violate its statutory authority; it does violate the Commission’s basic responsibility of assisting Main Street shareholders and smaller corporations in the capital markets; it is vastly costly, entirely pointless and wholly biased. The TCFD proposals are also immensely costly and entirely pointless and biased (in favor of politicized decarbonization, against basic technological and economic reality) though, and they come without any statutory or moral authority at all. The TCFD, like the Sustainable Accounting Standards Board and the WEF, is just an agglomeration of billionaires who have decided that they’d quite like the world to be run according to their personal policy preferences – thank you very much – and that they don’t intend to subject themselves to indignities like getting elected in order to achieve that end.
You can understand why they’ve dropped any plans to earn democratic legitimacy. Recall the spectacular failure that was Mike Bloomberg’s campaign for the Democratic nomination in 2020. From revelations that he had demanded that women staffers abort pregnancies to disclosures that old Nanny Bloomberg was pretty much an authoritarian all around, the Little Dictator didn’t come out of the experience very well. But that hasn’t thwarted his desire to rule.
.....In other words, Larry and Mike very much wish the world to dance to their tunes, exactly as they play them, and they don’t want any interfering governments trying to play along, even if it’s pretty much the same stupid tune.
Larry, though, may wish to take a care as he seeks to set a crown upon his head. For as he accumulates the real power of dictatorship, he also collects the responsibility, and the dangers. Surely he is aware by now that forcing the West into climate-catastrophist decarbonization guarantees is already creating a pointless, but world-historical, disaster. Consider developments just in the last couple of weeks:
· Germany, and Europe generally, have delivered themselves, bound and on their knees, to Russia, having decarbonized according to their incoherent political schedules rather than according to technological and financial need – just as Larry wants to “force” the U.S. to do because he personally is “very passionate about” it. All of this “threatens social peace” in Germany and around the continent – which is fine, right? Nothing bad has ever followed from that.
· All of this has forced Europe to revert to coal use, meaning that political decarbonization leads to eventual recarbonization of the least-efficient sorts.
· China continues to ramp up its coal production and use, as do India and other non-western nations, with none indicating any serious willingness to stop such increases. This is fair enough; why should they be denied moving from developing to developed because western billionaires want to change the rules, pulling the ladders up behind themselves? The result: no amount of western decarbonization can have any real effect on the earth’s climate, the only conceivable legitimate justification for decarbonization. (The growing suspicion that the WEF set knows that political decarbonization can’t achieve the stated goals, but really wants it as a way of keeping the hoi polloi trapped in constrained penury so that they can have the world to themselves is, of course, wholly illegitimate.)
· Japan’s long-struggling economy has been hit hard by the current energy crisis, leaving it less prepared to respond to any negative effects that might arise from the climate change that political decarbonization can’t stop.
· The Netherlands has erupted in protests in response to government nitrogen-reduction regulations that threaten to destroy one of Europe’s strongest agricultural centers. These pointless regulations, based on doubtful science, do their work just as the world faces serious food shortages.
· Those food and energy deficiencies, driven by a series of “green” initiatives such as taking the whole country organic, have brought Sri Lanka to its knees – sending one president and prime minister already into exile, and the Sri Lankan people into dire suffering.
· Here at home, Texas’ inexplicable and undefendable embrace of wind power threatens its energy reliability and – again – forces it back on record fossil-fuel demand.
There’s plenty more, but I think these items make the point. Or most of the point. Consider one last fact: that as Larry and Mike (and Brian Moynihan of Bank of America and David Solomon of Goldman Sachs and the rest of the Davos crowd) “force” American corporations to sign on to political-schedule decarbonization because they’re so personally passionate about it, they’ve also engineered an exemption from the European Union’s new “green” fuel tax for – do you even have to guess? – private jets.
Larry & Co., you see, mean not only to rule like dictators, but to live like dictators.
All of this put me in mind of Patrick Henry. In 1765, when a separate set of dictators (a crowd just as unelected by any Americans as the WEFers) sought to strip proto-Americans of their basic and fundamental rights through the Stamp Act, Henry offered a warning to George III, the chief unelected despot of that era. In the peroration of a speech against the act in the Virginia House of Burgesses he reminded his fellows that “Caesar had his Brutus, Charles the First his Cromwell and George the Third ... may profit by their example.”
As Larry, Mike, et al. grasp for themselves the power and trappings of tyranny in order to advance policies that will destroy both liberty and prosperity for the American people – just as George and his parliament did – let us hope that they, too, profit from those examples.
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Fink, Bloomberg and the rest of Wall Street need a date with the gallows or guillotine. They and the entire Davos WEF crowd need to meet the same fate as Nicolae Ceaușescu for crimes against humanity.
Must read!