Posted on 03/08/2022 9:20:35 AM PST by Jan_Sobieski
ESG stands for “Environmental, Social, Corporate Governance” and has been likened to a globalized Social Credit Scoring system for business. If you have a high ESG score, it will be easy to qualify for credit, to get the best deals with vendors and to participate in the global supply chain.
Alas, if you don’t have a high ESG score, you won’t be in business long unless you change your behavior and knuckle under to its demands.
So, how is ESG determined and who sets the rules and guidelines?
First, ESG has nothing to do with the physical aspects of a company, like capital, cash flow or profit. Rather, it concerns intangible factors such as how closely you, your vendors and customers adhere to Sustainable Development and climate change policies.
According to Forbes,
“The story of ESG investing began in January 2004 when former UN Secretary General Kofi Annan wrote to over 50 CEOs of major financial institutions, inviting them to participate in a joint initiative under the auspices of the UN Global Compact and with the support of the International Finance Corporation (IFC) and the Swiss Government. The goal of the initiative was to find ways to integrate ESG into capital markets...”
(Excerpt) Read more at technocracy.news ...
um... yeah
The U.N. needs to be kicked out of the U.S. and its building imploded.
Fiduciary responsibility would seem to indicate NOT having anything to do with ESG.
“Business Social Credit” — which will promptly trickle down to OUR individual ESG “Social Score.”
“No loan for you. You used a bad word once in 1987. And that FR post of yours in 1992? OMG — we’ll never loan you a penny.”
Here’s how the law of unintended consequences works through ESG investing to hurt working class people.
The ESG leaning board members of energy companies are pressured by the ESG investment pools that hold billions in pension assets to reduce their R&D and drilling plans or their stock price will tank along with their bonuses. This artificially drives up energy costs. This increases fuel, food, and manufactured goods prices that depend on energy sources to produce. The oil companies reap windfall profits and all the ESG ruling class liberals feel good about their virtue signaling.
Meanwhile, they are imposing a massive regressive tax on working class and poor consumers of energy who must choose between food, medicine, and getting to work. You can’t fool the laws of economics or thermodynamics. Energy is life.
Can't.
We are bound by a Constitutionally ratified treaty which prevents it.
ESG should be outlawed. It’s marxism by corporate blackmail.
for the end times ping list
Can’t.
We are bound by a Constitutionally ratified treaty which prevents it.
Nnn
I hate to break it to you but “Constitutionally ratified” treaties are ended all of the time. Legalism will not save the U.N. in the long run.
“If you have a high ESG score, it will be easy to qualify for credit, to get the best deals with vendors and to participate in the global supply chain.Alas, if you don’t have a high ESG score, you won’t be in business long unless you change your behavior and knuckle under to its demands.”
You have to give enormous credit to the left for coming up with these type of pressure tactics. They are absolutely masterful at pressuring corporations, agencies and institutions to implement their programs.
We on the right are absolutely pathetic at it. We think that getting off our asses every couple of years and vote (if we can even be bothered to do that) is all we need to do.
Elections don’t matter much to the left. It’s nice if they win but they have ten other ways to force their agenda on the rest of us.
Bottom line - the world is run by organized, committed activists. We suck at all three.
p
Well I want to get us out of the U.N. as much as you do, but the fact that our involvement is Constitutionally obligated makes it a very high bar to undo,
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.