Leftists are implementing a political agenda that bypassed the legislative process
Maybe you are tired of fighting loonies that want to end oil production and dismantle energy supply in the name of imaginary climate change, who want to crush your lifestyle, ban cars and meat, and get you to eat bugs to save the planet.
Maybe you are mad at the distortions generated by affirmative action, irate at those who instill racial unrest, push for all kinds of asinine Marxist policies culminating on a softness on crime that borders on cheerleading for it.
Maybe you are enraged at pedophiles working tirelessly to groom children into transgenderism, to twist reality to put biological men to compete in women’s sports, and to carve out protected spaces for the gender-dysphoria affected people in our society. It’s an all-out assault on the family.
What perhaps not everyone is aware is that this triple threat to the western culture and societies has been articulated as one via the ESG scores and metrics.
ESG (Environmental, Social, and corporate Governance) is pushed by leftists, Globalists and a Wall Street woke cartel made by the three largest U.S. asset managers — BlackRock, Vanguard and State Street — that together control over $20 trillion in assets.
It would be too long for our purpose here to outline the whole history of the ESG scores, so if you need an introduction to the topic, you can start looking here.
The ESG scores, flawed as they have been from the start, have now been hijacked and weaponized by social justice warriors.
Author James Lindsay has called ESG ‘a weapon in the hands of social justice warriors to shake down corporations and a tool in the hands of those seeking to impose one world government.’
‘In fact, it’s racketeering is what it is, is just criminal racketeering, using what looks like a responsible measurement tool as the mechanism.’
As you would expect, the Joe Biden administration is implementing these ideas as much as they can. But the pushback against ESG insanity has started, in the US.
The US Securities and Exchange Commission (SEC) has proposed a new disclosure rule called ‘The Enhancement and Standardization of Climate-Related Disclosures for Investors.’ This has prompted 23 State Financial Officers to Demand that the SEC Put Investors First, Not ESG Scores.
‘The rule would require public companies to disclose their climate-related risks to investors. The reporting framework is the first significant step toward making environmental, social, and governmental (ESG) reporting a regulatory requirement.’
The first and obvious objection is to this is that the SEC is not a climate regulator.
From the 23 State Financial Officers letter to the SEC:
‘It is disheartening but not surprising to see activist behavior from the SEC as it continues to promote rules and policies which prioritize polarizing political agendas over fiduciary duties to investors and issuers.’
‘This administration has been hell-bent on pushing a green agenda through multiple agencies […] to pressure publicly held companies to implement a political agenda that won’t pass through the legislative process.’
The letter reminds the SEC that ‘ignoring investments in oil and gas would deprive investors of income[…] Fund managers ignoring them to pursue green ends could be held liable.’
But sometimes we see that the Markets are developing their own antibodies against that. A financial firm backed by billionaires Peter Thiel and Bill Ackman aims to take the ‘woke’ out of corporate America.
Vivek Ramaswamy, author of ‘Woke, Inc‘, has raised $20 million to launch Strive Asset Management, an activist fund which will urge companies to drop unprofitable social justice issues pushed by BlackRock, Vanguard and State Street, ‘which Ramaswamy refers to as the ideological cartel.’
The firm seeks to ‘restore the voices of everyday citizens in the American economy by leading companies to focus on excellence over politics.’
The ideological Cartel ‘uses their clients’ funds to exercise decisive influence over nearly every U.S. public company to advance political ideologies that many of their clients disagree with. They engage in coordinated efforts to enact a uniform social agenda across corporate America resulting in higher gas prices and other consumer harms’
Although none of us put much trust in Congressual investigations, we begin to see the good guys moving against this travesty.
‘A lot of fancy investment bankers [want to] feel good about themselves and think they drive an electric car – when really they’re driving a coal-powered car, as opposed to a gas-powered car.’
Cottons thinks that BlackRock, in collusion with the Climate Action Partnership, created a climate cartel, ‘trying to suppress investment in the fossil fuel industry in America’.
‘When Republicans take charge in November, I’m going to make sure that the Congress is investigating these matters. This is almost certainly a breach of these firms’ fiduciary duties, probably a civil violation of anti-trust laws, and very possibly a criminal violation.”
But the Governors can have a great impact on the lives of the people in their states. After clashing with the Disneyphiles in defense of the kids in school, Florida’s Ron DeSantis has now taken a stand against banks and fund managers using ESG criteria.
‘They’re using things like social credit scores to be able to marginalize people that they don’t like.’
DeSantis has proposed legislation that will ‘prohibit big banks, credit card companies and money transmitters from discriminating against customers for their religious, political, or social beliefs.
The bill will also ‘prohibit State Board of Administration (SBA) fund managers from considering ESG factors when investing the state’s money’, and also ‘require SBA fund managers to only consider maximizing the return on investment on behalf of Florida’s retirees’.
‘Do we want our society to be governed by some of the most economically elite and powerful interests in society? I think our economy is going to be much better off if everything is not politicized. It used to be it wasn’t a political issue.’
Another example is West Virginia, that banned BlackRock, Goldman Sachs, JP Morgan Chase, Morgan Stanley, and Wells Fargo from State Contracts over their ESG Climate Activism.
West Virginia Treasurer Riley Moore: ‘While the ‘Environmental, Social and Governance’ or ‘ESG’ movement might be politically popular in California or in New York, financial institutions need to understand their practices are hurting people across West Virginia.’
These firms will no longer have access to roughly $18 billion worth of inflows and outflows each year.
‘BlackRock CEO Larry Fink has been outspoken in pressuring corporate leaders to commit to investment goals that will undermine reliable energy sources like coal, natural gas and oil under the guise of helping the planet, but at the same time he’s pouring billions in new capital into China, turning a blind eye to abhorrent human rights violations, genocide and that country’s role in creating the COVID-19 global pandemic.’
It’s a hard world, but the more we learn about it, the better our chances of improving it. As much as we fight CRT and grooming in schools, we need to fight ESG in the political and economical arenas.