Posted on 08/01/2022 5:29:02 AM PDT by MtnClimber
Inflation has emerged as the top issue for most Americans ahead of the midterm elections. Rising labor costs, energy prices, and interest rates are increasingly adding to inflationary woes.
And much to the Biden administration’s chagrin, the $1.9 trillion American Rescue Plan is the largest driver of inflation. Additionally, Democrats refuse to admit their push for Environmental, Social, and Governance (ESG), especially in energy policy, in both the public and private sectors is also a major problem. As more financial leaders scrutinize so-called sustainable investing, there’s ample evidence suggesting ESG exacerbated the 9.1% increase in the consumer price index.
Of the three ESG prongs, the “E” factor—which accounts for environmental stewardship and natural resources development in business practices—is primarily contributing to inflation.
Seema Shah, chief global strategist at Principal Global, calls this phenomenon “greenflation.” In fall 2021, Shah warned how the push to transition away from fossil fuels, notably in the form of advancing net-zero policies, “created a chain reaction resulting in higher energy prices and, ultimately, higher consumer costs.” She also explained how “en-flation” (environmental inflation) is adding to uncertainty by way of carbon credits, harsh penalties for companies that fail to meet U.N. climate targets, and increased investment in technology along with research and development (R&D), for instance.
American Petroleum Institute CEO Mike Sommers blamed the Biden administration’s “misguided” energy policies, namely their decarbonization push, for compounded inflationary pressures.
Ultimately, consumers will be burdened by “en-flation” as costs are naturally passed down to them.
(Excerpt) Read more at realclearenergy.org ...
Is this an effort to make the free market system as inefficient and expensive as communism?
One of the leaders in this movement, BlackRock and Larry Fink, is a big fan of investments in China. The ESG movement pushes companies to the political left. Oppose them and you won’t get a good “score.”
I think that the ESG scoring system was patterned after the Chinese Social Credit system.
ESG is nothing short of government extortion of corporations...
ESG is being planned to be used as a tax revenue scheme, the better your score the better tax rate your business gets. And the G score is predicated on donations to Democrats and their causes.
China and Russia both have social credit systems.
Oil is a case in point. The country needs oil but instead of utilizing our own available resources, the President begs Saudi Arabia for oil. Looks completely illogical until one considers the Green lobby.
Same for electricity. We discourage the use of electricity in homes (see California), but encourage the purchase of electric cars. Illogical until we realize that the administration is twisting itself into pretzels to give the appearance of addressing the problem while at the same time trying to appease a special interest group (the Green lobby once again).
The elite cocktail parties and jet-setting will continue unabated.
you aint seen nuttin’ yet on the greenflation
wait for the starve or freeze to death stage
When they manage to make Reds of everything the greens will find that they are in the way and do not matter anymore.
And Brian Deese was the EVP of ESG investing for BlackRock and now he’s in charge of economic policy for the White House!
It's not like Tesla started making gas guzzlers or anything. In fact, Musk himself is still demanding we implement more carbon tax. The only thing that's changed is Musk is less of a Dim butt kisser than he used to be, and that alone is enough for them to count Tesla as no longer ESG. LOL A stupid rating in a stupid categorization of investments. LOL
Yep, just depends upon which rung of the population one inhabits.
And democrats are stuck on abortion rights.
“Its a necessary transition for the Liberal World Order” according to Biden’s finance advisor.
Bkmk
Yes.
It is nothing more than extra woke crappola. Any system that throws in subjective social garbage and still tries to market itself as an economic indicator — well, who is more stupid? Them or the ones who adopt it?
ESG = Egotistical Stupid Greeniacs in charge
p
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.