The ESG scam

 Joan Sammon:

In the weeks since the S&P 500 announced Tesla’s removal from its ESG Index while inviting Exxon to join, but leaving Chevron out, the incongruous nature of the environmental, social and governance (ESG) construct has never been more obvious. It reveals what some might consider proof of the fraud that ESG represents. But what exactly is ESG? Where did it come from? Understanding its genesis and purpose of ESG will clarify what it actually is, not what many purport it to be.

Beginning in 2000, the World Economic Forum (WEF) embarked on an initiative that over two decades later can only be described as a Trojan-horse attack on free markets, private property, and democratic institutions. Founded in 1971 by German engineer and economist Klaus Schwab, the WEF describes its mission in part as, "improving the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas." Agenda-shaping it seems can be transformational, for good or bad, and quite lucrative.

Well-funded and well-organized, what has grown from that initial effort over two decades ago, is a sophisticated network of NGOs, foundations, and nonprofit entities working to achieve unprecedented ideologically inspired political, social, and financial change inside America and throughout the world, using the ESG construct.

With the promise of profit, this network engaged key asset management and banking partners, including giants like BlackRock, Vanguard, and Bank of America. Together these activist profiteers, best described as the ESG/Industrial Complex, are engaged in an extraordinary effort to fundamentally undermine and replace free markets while circumventing democratic institutions of governance and lawmaking. Seeking to force companies into behavior based on political ideology—often in defiance of the best interest of their investors—the ESG Industrial Complex represents a nefarious source of boardroom bullying and attacks on industries with which they politically disagree but whose assets they seek to control.

Using the pretense of social diversity and environmental protection needed to repair damage caused by capitalism, this network established the ESG construct. It represents a geometrically increasing impediment to many industries and the larger corporate culture. Though nebulous and ill-understood by both Wall Street and Main Street alike, it constitutes competing frameworks, reporting systems, and scoring systems for environmental and social reporting—but it lacks continuity and a quantifiable measurement. A meta-analysis of more than 1000 studies on ESG performance found that, “studies use different scores for different companies by different data providers.” These self-ascribed arbiters of politically appropriate values, behavior, and outcomes intend to identify, scrutinize, and then using ESG scores, punish public and private companies—and eventually individuals—who do not agree to live by the network’s validation feedback loop.
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There is more. 

There are reasons why there is a rebellion against this nonsense, especially among energy-producing states.  The push to do away with reliable energy like fossil fuels and replace it with unreliable wind and solar energy would harm civilization and literally result in a new dark age.  Wind and solar are already inadequate for normal electricity needs and there is no evidence that they could support a huge fleet of electric vehicles.