Posted on 06/06/2022 10:23:59 AM PDT by markomalley
Close on the heels of the climate disclosures for companies, the SEC has issued a much-needed proposal on standardizing ESG disclosures for ESG funds. I believe greenwashing is rampant in ESG funds as I have documented in academic papers with colleagues and in Forbes columns before. The DWS greenwashing scandal is potentially just the tip of the iceberg.
The new ESG funds rule is a 350 odd page document. I just finished reading most of the salient requirements. I realize that the SEC has also issued a rule on naming of funds. I will address that rule in another column.
(Excerpt) Read more at forbes.com ...
FJB
ESG (Environmental, Social and Governance) is just another really dumb idea brought by liberals committing fraud on investors. The public companies provide ESG information hoping to attract liberal investors. Liberals are morons and are easily fooled.
My guess is many CEOs will take their companys private again.
Just a guess.
5.56mm
The Great Reset....
Almost, but not quite. It's nothing but a "do they vote Democrat?" score. For example, when Standard and Poor dropped Tesla from their ESG rating simply because Musk says he'll vote Republican instead of Dim. It's not like Tesla will quit making EV's or anything like that. Even Musk is still pushing for things like a carbon tax. So you'd think Tesla would still be high on the ESG rating stuff.
But Musk is voting Republican now and that's all it to put Tesla's ESG rating into the crapper.
Glenn Beck explains ESG very well in his book The Great Reaet.
greenwashing- the practice of faking being environmentally friendly in order to comply with the environmental hoax that the globalists are forcing on everyone. It’s an attempt to hoax the hoax. What a tangled web...
UN/WHO/NATO/WEF/ESG = NWO
I want anti-communism rules for business and government. FJB.
It’s much worse than just a dumb idea. It’s the take down of the free market system and the legitimizing of a planned central economy based on fiat social justice dictates to be put in its place.
I just read an article more or less saying that ESG closes of European plans to replace Russian natural gas with LNG, due to its crippling shipping impacts.
They’ll soon be on their knees to Putin in Europe.
Forbes is now a wholly-owned subsidiary of the Chinese Communist Party.
https://iotwreport.com/forbes-sale-to-china-nears/
“My guess is many CEOs will take their companys private again.”
I know a few Fortune 50 companies chairmen and CEOs. Each of them desires to be private again. Being public is restrictive on taking the right changes and making bold choices.
No, think Qatar and UAE and even Saudi Arabia and Libya
Russia is simply not required
Time to pick a side
With investments in Rumble Video and perhaps Truth Social
Thiel is leading the non woke charge
Bill Ackman, Peter Thiel back investment firm taking on ‘woke’ capitalism
Pershing Square Capital boss Bill Ackman and tech billionaire Peter Thiel are among the investors backing an upstart fund that’s aiming to lead a movement against politically influenced “stakeholder capitalism.”
Dubbed Strive Asset Management, the fund was founded by pharmaceutical investor Vivek Ramaswamy – who also authored a best-selling book called “Woke, Inc.” that published last year.
The Ohio-based firm has raised more than $20 million from investors with a mandate to pursue an asset management strategy focused “on excellence over politics.”
https://nypost.com/2022/05/10/bill-ackman-peter-thiel-back-investment-firm-taking-on-woke-capitalism/
Oh Yes. there is Israel with a large supply of gas in the Med
"I know 'climate change' is a lot of nonsense, but if some government agency or major corporation wants to pay me a lot of money to tell them how to help them 'fix' it, I'll be glad to oblige."
I don’t understand how these investment groups are minding their fiduciary responsibilities to their investors while they push this ESG crap. Some of the ESG goals are not profitable and cost significant amounts of money. Seems like a good grounds for some lawsuits.
>>I don’t understand how these investment groups are minding their fiduciary responsibilities to their investors while they push this ESG crap. Some of the ESG goals are not profitable and cost significant amounts of money. Seems like a good grounds for some lawsuits.
Hence the SEC rule to provide cover. Now, it’s not the company’s decision, it’s external rules they are required to follow.
Exactly.
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