Posted on 09/17/2024 6:48:45 PM PDT by Mr. Mojo
While Americans have been focused on the election, the European Union has been in the process of passing a new law. It’s called the Corporate Sustainability Due Diligence Directive, and its reach will go far beyond European borders.
In fact, “It’s going to impact every single American,” Justin Haskins, author and editorial director of the Heartland Institute, tells Allie Beth Stuckey.
“Essentially, what it does is create ESG social credit scores for companies. ... These ESG scores are designed to transform the way companies operate, the kinds of products and services that they can sell, and then, by extension, transform societies around it,” Haskins explains.
So what does a company’s social credit score depend on?
Apparently, a variety of measures are used to determine a company’s credit score — things like “climate change,” “biodiversity,” “land and water use,” “social justice,” “LGBTQ” causes, and diversity in general.
“How diverse is your board of directors? How diverse is your management team? Like these are the kinds of things that are in these ESG scores,” says Haskins.
Even though the United States doesn’t have a social credit scoring law (most ESG initiatives exist in the private sector), Europe’s CSDDD will nonetheless hugely impact American businesses.
The law “applies to large companies that are based in the European Union” as well as “non-EU companies that do above a certain amount of revenue in the European Union, so for example Apple or McDonald's,” Haskins explains.
Further, these high-earning non-EU companies that fall under the jurisdiction of the CSDDD will be forced to adhere to its policies outside of the EU as well.
“It's not enough for them to change their policies in the EU; they have to change it in America. They have to change it everywhere they do business; that's what the law says, and if they don't, then they can be fined 5% of their total worldwide revenue, so for a company like Apple, if you do the math, that's $19 billion for one violation,” says Haskins, who predicts that “no one's going to violate this law because they can't afford to.”
If that wasn’t extreme enough, the law also applies to “almost all of the businesses that [companies under the CSDDD] work with in their supply chains, upstream and downstream, no matter where they're located or how much business those companies do in the EU.”
Haskins points to Ford as an example. Ford is an American company that does business in the EU and produces enough revenue to fall under the jurisdiction of the CSDDD.
Therefore, “All the businesses that [Ford does] business with in America are also doing these ESG scores,” he says, “so you could be a rubber manufacturer in Ohio that does no business in Europe, but you make rubber for Ford, so you also have to adhere to the EU rule, and Ford is going to be the one that imposes it on you through contractional insurances.”
Naturally, Ford will comply because if the company refuses, “then Ford gets fined 5% of their total worldwide revenue.”
“When you start playing out the ramifications of this, they’re enormous,” Haskins laments, adding that “through this [law], you can transform the entire country because you can transform hiring practices, business practices, the kinds of products that people sell and buy, the commitment to social justice goals,” etc.
The looting managerial class will roll over for this bull as long as they get to keep their wealth and impose the costs on the rest of us. These measures are designed to do exactly that: keep the elites at the top and keep us proles impoverished.
Yeah, screw the “yoops’. But, we know how this works. 🤔
Do these rules affect Russia? LOL, Russia says NET, so what’s Europe going to do about!
Communism by proxy.
These corporations just need to shut down in these countries tomorrow. It is worth a hit to make them back-peddle.
“If I’m a global company, I’d drop the EU like a hot potato.”
Yep, absolutely, like tomorrow just because they are thinking about doing this. “We will come back on line when you change your mind.”
It will be within 24 hours...
“Fascists never sleep. I hope Russia nukes them.”
I’m not quite there yet, but shit like this is why we have the Ukraine War. For as long as Russia can be the Beacon of Freedom to Europeans, the Fascists/Communists now running Europe will be endangered, as one day, maybe sooner than later, people there are going to RISE UP and demand that to be like Russia, where businesses and people can be free from the SHACKLES of Globalist Leadership, as long as they don’t try to get ‘cute’ (no different from here, come to think of it - and the bullets whizzing by Trump are indicative of what the Fascists running the West will do to people who do not stay in their lane).
Sounds like a very bad loser strategy by the Euroweenies.
Iran can do a lot better offers for the American companies, and in fact, China does many times better than the EU dopes, which is why China has been getting more of our businesses to do business in China.
Europe is showing the strain of climate change and DEI strategies Going, going, gone soon. Bye-bye, dummies.
If it were not for the U.S. and the NATO alliance, Europe would have become as relevant as Venezuela in the world economies.
Game, set, match.....
And that is how Ford loses its domestic supply base. Its also how you spark a domestic reaction against companies going along with the globalist BS. Then people in the US start questioning why are they involved with Europe.
And I have no doubt that elements in the US are pushing the EU to do this to force things they can't impose domestically. It would be nice to know who they are.
80 million strong, the individual purses combined can put this crap to bed.
Making us sorry we saved most of their butts during WW2. (Germany and Austria are the exceptions)
Europe minus a few nations is a Satanic cesspool headed to damnation and hell fire.
Europe is blowing up their industry themselves via windmills, solar and reducing fossil fuels asap. Losing the Nordstream just hastened things along a bit.
They are counting on the companies buckling and complying.
What happens if they all decide not to?
They get fined? What if they all refuse to pay?
This has no power over America except what we grant them by capitulating.
Sadly, however, I see them doing it. Partly because they are already sold out, but partly because for end times fulfillment to happen for a one world government and monetary system.
Communism is in control... Globally...
Dear French Luxury Goods Purveyor:
You now own a Ford factory in Europe.
You no longer own rights to luxury goods in the USA.
USA
“European Travel Information and Authorization System”
https://etias.com/etias-requirements/etias-for-american-citizens
“Application Fee
A nominal fee (€7) is required for the application. This can be paid online using a credit or debit card.”
“The ETIAS authorization is valid for three years or until your passport expires, whichever comes first.”
What will Musk say when they threaten Twitter? This is another reason to vote against Kamala.
>> Fascists never sleep. I hope Russia nukes them.
I’m kinda leaning that way too.
>> If I’m a global company, I’d drop the EU like a hot potato.
Yep. Cut Yurp loose and let ‘em rot in their own septic waste. Stupid woke jackasses.
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.