The Inhumanity of ESG
Prior to founding Generation Investment Management in 2004 along with Al Gore, David Blood, worked with the investment firm Goldman Sachs. Together, the two climate mobsters united on a Wall Street Journal (WSJ) opinion piece called, “ESG Investing Is Consistent With Fiduciary Duty”. You may remember that Goldman Sachs collected $10 billion from U.S. taxpayers as part of the $700 billion bailout of the banking industry in the wake of the 2008 financial crisis. During the same period, competitor Lehman Brothers were forced into bankruptcy.
ESG is an acronym for Environmental, Social, Governance. Investors calculate and concoct a rating based on these three factors. The rating is assigned to both countries and companies. Climate change is likely the largest physical factor in the environmental rating, while the “woke” style of societal justice in human resources becomes a paramount assessment in the social and governance rating. The title of the opinion refers to a fiduciary who is a company or person in a position of trust who self-obligates to always act in the best interest of those who trust that person or firm. Fiduciary responsibility is usually related to those that invest on behalf of clients.
I wrote about ESG in my article entitled, “Environmental Inquisition” which is linked here.
In the WSJ article, the climate criminal cohorts write, “Consider two examples. If a company is at risk of having significant liabilities for its past practice of dumping toxic chemicals into a river, don’t investors need to know that? Or how about if a company is building gas-fired power plants or new oil pipelines that, as governments tighten their climate targets, may have to be shut down decades before their projected useful lifetimes expire. Isn’t that relevant information?”
The first example which can be an empirically-proven physical fact is a far cry from the abstraction or hypothetical construct of the second. Governments, the world over are not “tightening their climate targets”, but rather returning to fossil fuels because of war and the inconsistency and incompetence of renewable energy sources. Thus, in this case, to protect people from dire cold and perhaps death, ESG would condemn both governments and the fossil-fuel energy companies that are enabling people to live.
How absurd and barbaric is that? And, they call it “Consistent With Fiduciary Duty.”
However, the world of activist climate change, propelled by progressive politics, has no pity on people, their lives or their livelihoods. They believe, of course, that it’s the people and overpopulation that create the problems that exist in the world today. Perhaps all of this is an intentional strategy of Al Gore’s depopulation plan. At the 2014 World Economic Forum Gore said, “Africa’s projected to have more people than China or India by mid-century. And this is one of the causal factors that must be addressed.” He then offered up the idea of “fertility management”.
And the mainstream presses didn’t call him a “racist”.