Posted on 05/19/2023 4:51:26 PM PDT by Twotone
Glenn has been one of the most outspoken critics of the use of ESG by globalist elites to force businesses to comply with their woke agenda. It turns out, not only is ESG bad political practice—it's bad for your wallet too.
Global Investments in ESG Funds PLUNGED 76 percent globally in 2022 from $157.3 billion to $649.1 billion in 2021, with a 20 percent decrease in the U.S. ALONE. This marked the lowest annual net inflow for ESG funds since $69 billion in 2018.
The downturn in ESG investment is largely due to the concerted effort led against ESG led by Glenn and government officials like Ron DeSantis and his anti-ESG 14-state coalition. Thanks to Glenn and DeSantis, an increasing number of states are barring their governments from taking ESG into consideration when determining their investment recipients for state pension and retirement funds. This not only protects critical American industries like oil and gas, but moreover, it protects the First Amendment rights of business owners who don't want to conform to the Left's woke environmentalist and LGBTQ+ standards.
However, the massive plunge in ESG investment isn't only attributed to the political pushback against the practice: it also isn't yielding investors the return on investment they were hoping for. In fact, the main ESG funds have a NEGATIVE return on investment.
ESG funds were hit hard by falling equities. One of the largest ESG funds int the U.S., Parnassus Core Equity Fund (PRBLX), fell 26 PERCENT in 2022. This fund performed nearly six percent worse than the S&P 500, which fell 19.44 percent within the same period. Similarly, iShares ESG Aware MSCI USA ETF (ESGU) fell 20 percent, and Vanguard ESG U.S. Stock ETF (ESGV) plummeted 24 percent.
Even the Harvard Business Review admitted investors in ESG have "not fared well":
ESG funds certainly perform poorly in financial terms. [...] Although the highest rated funds in terms of sustainability certainly attracted more capital than the lowest rated funds, none of the high sustainability funds outperformed any of the lowest rated funds [bolded added]. That result might be expected, and it is possible that investors would be happy to sacrifice financial returns in exchange for better ESG performance.
The Harvard Business Review went on to say that ESG funds don't even benefit the environmental and social causes they tout to defend. In fact, when comparing environmental and social compliance between ESG and non-ESG funds, the "ESG portfolios had worse compliance record for both labor and environmental rules" than their non-ESG competitors.
Let that sink in. ESG funds not only financially underperformed when compared to their non-ESG competitors. They failed to secure the very environmental and social compliance that is central to their original purpose. Missionally, practically, and financially, ESG failure is astounding.
As Glenn has long warned, the only thing that investment firms and governments should be taking into consideration regarding YOUR money is how they can get the best possible return on YOUR investment. We are seeing the detrimental consequences of what happens when woke ideology becomes the basis of investment rather than the recipient's monetary value. The only thing that governments should take into consideration regarding YOUR money is how to get the best possible return on YOUR investment.
If political conviction alone isn't enough to persuade the general public to ditch ESG, maybe their hurting pursestrings will.
Glenn will show how ESG is being used to further globalist elites' agendas in the second installment of his Great Reset series, Dark Future.To make sure you're caught up and to learn more about ESG, enter your email below to get chapter one of Glenn's first Great Reset book sent straight to your inbox.
Mine plunged to but they weren’t ESG investments.
Will someone help me with the math?
The numbers are reversed accidentally. So the “to” number should be the “from” number and vice versa.
Yeah. That’s a terrible paragraph. The whole world needs more editors. Stat.
Years in wrong order?
From $649.1 billion to $137.3 billion.
That was not correct. This is in their home page:
Net inflows—subtracting investors’ redemptions from new and amidditional investments—into ESG mutual funds and exchange-traded products plummeted 76% to $157.3 billion in 2022 from $649.1 billion in 2021, according to Morningstar data. Last year marked the lowest annual net inflow for ESG funds since $69 billion in 2018.
If my math is correct, .76 percent (76%) x 649.1 billion = $493.316 billion loss. That is close to what you get, when, you subtract the 649.1 billion from 157.3 billion = $491.8 billion.
They probably reversed the numbers. Too funny. I didn’t notice.
Best way to get something posted on Glenn Beck website: make a compliment about him. Doesn’t matter if it is true or even relevant. I am still angry at Glenn Beck for being anti Trump and I have yet to hear him apologize. He’s on my Not Gonna Read list.
Where is the flashing Schadenfreude sign?
No one. Only the weak cave to protesters, whiners and fake con artists pretending to have grievances despite being so fortunate to live in this modern United States.
In the now-old movie "Head Office" Eddie Albert, as the CEO of a powerful multiglomerate, threw two ball bearings down a corporate meeting table said "With these balls of steel I built an empire."
That's what we have to get back to and any wusses who object can clean barnacles the hard way.
just checked and it still hasn’t been corrected.
not good enough.
There are enough FReepers with the proper expertise, to put a holy hurt on Black Rock by a campaign design.
Dump all products they own. Every. Single. One.
your investments in a scam
Let go of your anger. Lots of people were anti-Trump & are now solidly behind him. And I watch GB & he HAS apologized. Quite frankly, I wasn’t keen on Trump either. I remember thinking, “Just what we need...another NY liberal running in the Republican Party.” I voted Cruz in the 2016 primary, but voted Trump in the general. He impressed me with what he accomplished, but he made some bad decisions, too. Particularly on personnel. And he pissed me off royally in his campaign by saying the Federal Gov’t would take better care of the land & was against releasing it back to the states. Does anyone realize how many agencies could be eliminated if the Feds gave the land back to the states? That should be the first thing on the agenda of any Republican who enters the White House, assuming that ever happens again.
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