Progressives are hell bent on destroying the economy of the United States. They believe that this the only to save the world from the mythical monster known climate change. Their plan is to stop the United States from using fossil fuels and replace them with wind and solar.
For the past couple of decades those on the political left have attempted several schemes to wean the United States off of fossil fuels. The latest was the Green New Deal. Fortunately for the inhabitants of the US, the Democrats have only achieved limited success.
When Progressives are stymied openly, they most often try to achieve their goals through stealth and dishonesty. That is exactly what Environmental Social and Governance is all about.
I found a great definition for Environmental Social and Governance in this Market Business News article.
ESG stands for Environmental Social and Governance, and refers to the three key factors when measuring the sustainability and ethical impact of an investment in a business or company. Most socially responsible investors check companies out using ESG criteria to screen investments.
It is a generic term used in capital markets and commonly used by investors to evaluate the behavior of companies, as well as determining their future financial performance.
The Environmental Social and Governance factors are a subset of non-financial performance indicators which include ethical, sustainable and corporate government issues such as making sure there are systems in place to ensure accountability and managing the corporation’s carbon footprint.
Here are the three main components of Environmental Social and Governance.
Environmental criteria, which examines how a business performs as a steward of our natural environment, focusing on: waste and pollution, resource depletion, greenhouse gas emission, deforestation, climate change
Social criteria, which looks at how the company treats people, and concentrates on: employee relations & diversitym, working conditions, including child labor and slavery, local communities; seeks explicitly to fund projects or institutions that will serve poor and underserved communities globally, health and safety, conflict
Governance criteria, which examines how a corporation polices itself – how the company is governed, and focuses on, tax strategy, executive remuneration, donations and political lobbying, corruption and bribery, board diversity and structure
This article, Breitbart Business Digest: ESG Is Cancel Culture for Fossil Fuels, explains the principal motivation behind Environmental Social and Governance.
Interest in investing on what are known as environmental, social, and governance (ESG) factors has exploded in recent years. According to Deliote’s Center for Financial Services, professionally managed assets with ESG mandates swelled to $46 trillion globally in 2021, representing nearly 40 percent of all assets under management. The result of this is that it has become incredibly hard to raise funds for expanding fossil fuel production. So even oil prices above $100 a barrel are not attracting capital into the sector.
The Biden regime was not content with Environmental Social and Governance being a policy implemented by the private sector. Check out this article, ‘Big shift’: Biden moves to rewrite the rules on climate threat – POLITICO
The nation’s top financial regulators will soon embark on a controversial, first-of-its-kind mission: forcing banks and other industry players to prepare for potential threats to the U.S. financial system from climate change.
All the leading agencies will be headed by progressive regulators who will seek to push the administration’s agenda forward even as President Joe Biden has failed to get broader climate-related legislation through Congress.
Among other moves, regulators are likely to press banks to prepare for the fallout from a warming planet by stepping up scrutiny of fossil fuel financing. They will make the lenders undergo regular tests to measure how their investments could be threatened by flooding, wildfires and other growing risks. And they could rewrite the rules against the discriminatory practice known as redlining to push lenders to put money into disadvantaged communities most vulnerable to climate change.
Biden has tapped Sarah Bloom Raskin, a climate warrior who has called fossil fuels “a terrible investment,” for the Federal Reserve’s top regulatory job. Martin Gruenberg will take over the FDIC after Democrats on the panel rebelled against Chairman Jelena McWilliams, a Trump appointee, prompting her to resign. And the Office of the Comptroller of the Currency, a lesser-known but powerful banking agency, is led on an acting basis by Michael Hsu, who has put climate issues front and center.
This article highlights, China’s Alibaba Pushes ‘Individual Carbon Footprint Tracker’ at Davos (breitbart.com), what would be the endgame move in this war on fossil fuels.
Chinese tech giant Alibaba is developing a digital “individual carbon footprint tracker” to monitor the actions of the public, the firm’s president announced at the globalist World Economic Forum in Davos, Switzerland on Tuesday.
Speaking at a “Strategic Outlook: Responsible Consumption” WEF panel in Davos, Alibaba Group President J. Michael Evans said that his company will be introducing more surveillance systems within China in order to usher in a so-called greener future.
