ESG scoring allows a small group of unaccountable executives to wield tyrannical power over corporations and individuals.
ESG's arbitrary and capricious nature empowers individuals to enforce their ideologies without accountability, stifling dissent and imposing their beliefs.
Deep dives
The Origins and Purpose of ESG
ESG stands for environmental, social, and governance scoring. It originated at the United Nations as a way to leverage passive investment money for impact investing, investing in companies that promote environmental and social activism. The pretext for ESG was managing long-term investments and avoiding risks associated with environmental policies, social responsibility, and governance models. However, it quickly became captured by large passive investment firms and organizations like BlackRock and Vanguard, leading to the promotion of woke identity politics and environmental extremism within ESG.
The Power and Control of ESG
ESG wields immense power by influencing corporate behavior through governance scoring, board placement, and executive control. These powerful actors can manipulate corporate policies, reward structures, and even dictate board and executive appointments. They also have significant influence over financial institutions, controlling interest rates, access to capital, and lines of credit. With substantial ownership of shares in major corporations, they can sway shareholder votes, manipulate stock prices, and cause market fluctuations. Their ability to change rules and policies overnight according to their own whims and ideologies is a central threat of ESG.
The Arbitrary Nature of ESG and the Real Threat
One of the most concerning aspects of ESG is its arbitrary and capricious nature. The scoring and policies can change abruptly, rendering previous actions or investments obsolete or even detrimental. This grants great power to a small number of unaccountable individuals who can enforce their own ideologies and agendas, whether it is promoting woke cultural revolution or pushing Malthusian environmental policies. The real threat lies in the arbitrary power granted to these individuals, who can control and manipulate various industries, governments, and even individuals, stifling dissent and imposing their own beliefs without accountability.