Who established a mandate for ESG scores and who gave them the authority to do so? For that matter, why should companies on the stock exchange kowtow to "Diversity, Inclusion & Equity" when those do nothing to advance marketability, competition-driven improvement and meritorious profit?
I think we should never have accepted "credit scores" when they started that scheme.
And which can cause a company to D-I-E.
ESG issues were first mentioned in the 2006 United Nation’s Principles for Responsible Investment (PRI) report consisting of the Freshfield Report and “Who Cares Wins.” ESG criteria was, for the first time, required to be incorporated in the financial evaluations of companies. This effort was focused on further developing sustainable investments. At the time, 63 investment companies composed of asset owners, asset managers and service providers signed with $6.5 trillion in assets under management (AUM) incorporating ESG issues. As of June 2019, there are 2450 signatories representing over $80 trillion in AUM.
https://en.wikipedia.org/wiki/Principles_for_Responsible_Investment
Appears to mostly be the big asset managers and investors. Blackrock, Vanguard, and to a lesser degree, State Street. I'm not sure how it relates to profit. I suppose by killing off or buying out small and mid sized companies that don't score well. Blackrock is also buying up properties including single family homes. With the economy tanking, young people will have to rent instead of buy so Blackrock may become the largest landlord in the world through property management companies.
You'll own nothing and be happy. Everything will be leased/rented is what that's about, all the way down to small kitchen appliances that you only use occasionally. Rent online, a drone delivers it and then schedule pickup when done with it. There's a lot of talks about this. Need to go somewhere? Ride an e-bike, walk, take a bus or call the autonomous auto rental service.
Think of sharecropping. You're provided with everything you need but it takes up everything you make.
Here's a few short animated videos, under minutes each, of potential life in 2040. https://www.youtube.com/watch?v=nGQu1y4BZSs - https://www.youtube.com/watch?v=qAdpYcqU-UY - https://www.youtube.com/watch?v=wT0XqQ7SV8o
Ten minute TED talk - Could you Imagine a future where you don't own a car, a house or even clothes? Tech Designer Orit Dolev takes us on a journey where we trade belongings for services and have fun in the process. - https://www.youtube.com/watch?v=7I3ibU2-CU4
It's not the only talk on this subject.
Take a look at food. Cows bad, field farming bad. Poor ESG score. This article is a little alarmist/conspiracist but the Vertical Farming it documents is real. https://www.coreysdigs.com/global/new-controlled-food-system-is-now-in-place-and-they-will-stop-at-nothing-to-accelerate-their-control/
Vertical Farming, no fertilizer getting into groundwater. Uses a fraction of the water and nutrients. ESG score good. Cultured meat will be the same. Bug protein - ESG score good. Say goodbye to traditional farming and foods. All of these new food systems involve patented tech. Vertical farms use gene-edited, patented plants. Cultured meat will use proprietary formulas and patented processes/machinery. Monsanto took over corn seed like that. Now, 90% of all corn grown is Monsanto's patented GMO corn.
It's all a transfer of money and ownership upwards to mega corporations and tech industry.
competition-driven improvement and meritorious profit
Tech and power driven growth and nefarious profit.