The Scam of ESG

The implementation of ESG is a scam that involves a fiduciary breach and the use of centralized market participants to advance agendas that many capital owners disagree with. The amount of capital managed by asset managers globally who are signatories of the climate action 100 plus network is around $68 trillion, which contributes to the anti-competitive problem. The coordination and mandate of the top shareholders through associations like the climate action 100 plus network to behave in the same way as asset managers is celebrated under the ESG acronym. Conflicts of interest arise when ESG-linked asset managers force American oil and gas companies to cut production, while firms like Petro China pick up the same projects, with BlackRock being one of the large shareholders of Petro China. There are also conflicts of interest with capital mandates from government pension funds, as individuals are unknowingly dragged along for the ride. Constitutional violations occur when individuals are compelled to engage in political speech using their money through government pension funds. The scam of ESG is a violation of the law, the largest-scale fiduciary breach of the 21st century hiding in plain sight, and calls for market solutions rather than state-driven government solutions.