The financial malpractice of ESG

 Washington Examiner:

Environmental, Social, and Governance, known widely as ESG, is a concept in finance that essentially uses "wokeness" as a measure of a company's value or worthiness of investment. Thus, it is a form of financial malpractice. It is fundamentally dishonest to misrepresent a company's financial soundness by subordinating financial considerations to political judgments and end-of-the-world superstitions.

But since corporate leaders may not be convinced based on what's honest, here it is in the language they might understand: It could get you sued, and it could become very expensive.

This week, Utah began the much-needed pushback against the use of ESG principles by the financial analysts who look at the state's bonds. Gov. Spencer Cox and other state officials, incensed by low and apparently arbitrary ESG ratings, wrote a letter to ratings agency Standard & Poors demanding that the ratings be rescinded. They demanded specific answers to several questions and asked that the state government be evaluated based solely on the soundness of its finances and its future prospects, not on the subjective, politically correct considerations that go into ESG.

"S&P’s ESG credit indicators politicize what should be a purely financial decision," the Utahns write, pointing out how leftist regulators and ESG activists have tried to pressure banks not to work with the "oil, gas, coal, and firearms industries," among others.

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I think others should consider this push back against the environmental wackos who have been serially wrong for decades.  This should be another reminder that the poles are still not ice-free and coastal cities are still not underwater as predicted by the leftist environmentalists.