Posted on 03/15/2022 5:23:19 AM PDT by MtnClimber
Support for the modish “environmental, social, and governance” movement is mainly empty sloganeering—as multinational corporations have shown with their response to Russia’s invasion of Ukraine.
Russia’s invasion of Ukraine has given rise to an exodus of Western-based multinational firms from the Russian market. Emblematic of this was BP (formerly British Petroleum), the British energy firm, deciding in the days after Vladimir Putin’s forces entered Ukraine to sell its 20 percent stake in Rosneft, Russia’s state-controlled energy company. Since then, a number of other large companies have elected to suspend or exit their operations in Russia, and the Wall Street Journal and other publications have tracked the growing number of Western businesses pulling out from the Russian market, a list spanning myriad industries and headquarters countries that includes Apple, Boeing, Ford, Volkswagen, American Express, H&M, FedEx, and Google.
It may be that these companies are leaving theRussian market entirely for morally commendable reasons in the face of Putin’s naked aggression and violation of Ukraine’s sovereignty. But it raises another question: why now?
Neither the Russian Federation’s previous military incursions into Georgia, Crimea and the Donbass region of eastern Ukraine, nor its record of murder, torture, and poisoning of political dissidents gave these companies pause about doing business in Russia, and their continuing to do so until recently is decidedly at odds with the environmental, social, and governance (ESG) principles professed by most large multinational corporations. One could argue that while all of these actions transgressed international norms, the Ukraine invasion is of a different order of evil. But that argument minimizes Putin’s prior actions: an assertion that is more than a little distasteful.
So what changed?
Of course, what this reveals is that in practice these companies are not responding to events in light of their avowed ESG principles,
(Excerpt) Read more at amgreatness.com ...
ESG is a sneaky way to control free enterprise companies and is the precursor to a personal social credit system.
B L M = C R T = E S G = M A O
America went to the Moon on less acronyms.
White guys and slide rules.
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