Posted on 05/28/2022 7:10:51 AM PDT by boycott
While the World Economic Forum was hosting its “Annual Meeting” in Davos, Switzerland and pushing for the worldwide implementation of environmental, social, and governance (ESG) investing metrics, Kentucky Attorney General Daniel Cameron issued a scathing letter against ESG investing, declaring that it does not comport with Kentucky law.
According to the letter, “There is an increasing trend among some investment management firms to use money in public and state employee pension plans—that is, other people’s money—to push their own political agendas and force social change.”
By this, Cameron is referring to the fact that giant financial firms such as BlackRock, which have substantial holdings in public pension plans, have begun to push ESG investing in order to further their political aims instead of maximizing investment returns.
As Cameron describes the problem, “‘Stakeholder capitalism’ and ‘environmental, social, and governance’ investment practices, which introduce mixed motivations to investment decisions, are inconsistent with Kentucky law governing fiduciary duties owed by investment management firms to Kentucky’s public pension plans.”
In the blink of an eye, ESG investing has become all the rage among big banks and globalist organizations. Simply put, Wall Street and other large financial institutions are on-board with ESG because it vastly increases their power by allowing them to determine who and what companies will have access to capital based solely upon their adherence to entirely subjective ESG scores.
What’s more, because ESG metrics are subjective in nature, and subject to change at a moment’s notice, it allows big banks and the like to nudge society in any direction our “betters” choose at a given point in time.
(Excerpt) Read more at townhall.com ...
The "woke" agenda is being forced on corporate America by Wall Street and large institutional investors like Blackrock. Imagine where Amazon, Facebook, Disney, Google, etc. would be without the large institutional investors. The same for so many other corporations. These companies better get on board the ESG train or they're not going to be propped up by the institutional investors.
I hope other conservative state leaders are paying attention.
What’s in this guy’s future? Young fella(37). Could be Gov., Senator, SCOTUS, perhaps even POTUS. You know the left will go to work on him big time. Is he up to it?
Btw-Speaking of POTUS is Trump scheduled to be somewhere today? I would be surprised if the NBA didn’t try to schedule a playoff conflict with him in mind.
Another reason Soros has been targeting Secretaries of State and State AGs!
My wife and I live in Kentucky. We’ve loved this guy since we learned of him when he was running for offive (to replace Beshere, who is now a worthless governor).
This guy is great!
For those that don’t know, and may or may not care, he’s also black, which some think would be odd for Kentucky. Nope. We’re not the racist south so many think we are.
This guy is smart and just may be going places.
Woke is pervasive in Big Corp. It’s (almost) required. This would be an opportunity for an investment firm or hedge fund to go after the conservative capitalistic market that is still profitable. I don’t like firms that use (near) slave labor in China but would prefer American firms that use legal Americans in their workforce.
ESG a social credit score for corporations
its coming
ESG is inconsistent with the laws of physics.
Folks, CW-II will occur.
Plan on making liberals suffer.
Very much.
Really very very much.
Because they are planning on making us suffer.
Us = the folks who actually do useful things.
I know little about the guy but I surely like him. He’s 100% right on this issue. Unfortunately, he’s got a huge uphill battle to take this one on. If other states got on board, it could certainly slow the “woke” agenda that is running our nation off the rails.
Social Credit Score, at the individual level, is who’s blacklisted and who is not.
They will punish those who object to their rule, and it will be legal. It will be Universal Slavery, in the most evil form.
There will be no place to hide.
We MUST NOT go THERE.
CW-II will occur
It already is. Granted for the most part it’s currently cold but it does have some hot flare-ups caused by the left. Once they push us over the tipping point that’s when things get ugly
I live in Kentucky too and I’m thinking he will probably run for Governor next year and kick Beshear’s butt.
Kentucky needs to enforce their criminal law with criminal penalties for violations in this situation.
ESG = communism
Double ditto re the South.
Thx for info
Excellent. We need more of this.
Texas passed the FIND Act which prevents discrimination against the firearms industry. They passed another which excludes from state contracts any company/bank which discriminates against fossil fuel.
We need more AG’s and we need shareholder class action lawsuits against ESG. If you as a bank or other company are not maximizing profit, you are violating your fiduciary duty to the shareholders. You should be held criminally and civilly liable for that.
That means you Larry Fink.....Blackrock....Vanguard...etc
Pension fund managers have a fiduciary duty to invest so as to get a high and safe return for the pension recipients.
Using the funds for social engineering purposes violates that duty.
To California maybe.
Its NOT coming to Florida.
Harvard Business Review
March 31, 2022
An Inconvenient Truth About ESG Investing
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