What is “ESG”?
A Marxist plot.
Easily State Gotten
“an objective measurement or evaluation of a given company, fund, or security’s performance with respect to Environmental, Social, and Governance (ESG) issues.”
Environmental, Social, Governance. Woke on a massive scale.
ESG stands for E nvironmental S ocial and G overnance.
It is a scoring system to see how well it complies to a certain set of agendas. On a personal level it is fine if people want to chose their investments on their own moral principles.
What has been happening though, is it has begun to be used like the Chinese Communist Party’s Social Credit Score. Additionally, State Pension management officials and other large funds have been going to those investment firms they hold a significant investment in - say 15% of an entire fund - and demanding that they only do business with groups with high ESG scores and withhold investment in groups like firearms manufacturers or sales, oil companies of any kind, media companies that aren’t liberal enough and an array of other businesses. Those large investment firms then go to banks and threaten them if they do business or give out loans to groups that are negatives on *their* ESG score - even if it costs them money.
This is how small groups have leveraged their whackadoodle ideas on broad swaths of the financial sector.