ESG Euphemized to “Transition Investing”
Once people realize the crap sandwich doesn’t taste so good, it needs to be renamed. That’s why progressivism is now “liberalism.” Likewise, corporate moonbattery, previously known as “ESG” (environmental, social, governance), is now to be called “transition investing.”
As noted at American Thinker,
ESG as a buzzword really came to mainstream recognition after being vigorously promoted and spoken about by Larry Fink of BlackRock.
But now, as reported at Just the News,
The company recently updated its climate and decarbonization stewardship guidelines. The document makes no mention of ESG, but it shows in many ways, the world’s largest investment manager with $10 trillion in assets under management is still pursuing many of the same goals.
These pernicious not to mention unprofitable left-wing goals are now referred to as “transition investing.”
One of the main criticisms of ESG is that it pushes progressive policies through a process that circumnavigates elected officials and the courts. When investment firms require banks, for example, to meet certain ESG “sustainability goals,” capital in the market gets bound up with leftist political objectives through administrative rulemaking.
Farmers (and those of us who consume their products) are hard hit by climate cult kookiness insidiously imposed in the name of ESG through banks:
The Buckeye Institute, a free-market think tank, released a report earlier this year estimating the cost of compliance with net-zero emissions policies and corporate ESG reporting requirements on American farms. According to the report, farmers will see costs rise at least 34%, which will translate to annual grocery bills rising by 15%.
Thankfully,
The ESG movement has received a lot of pushback over the past couple of years from state legislatures and Congress.
So Larry Fink won’t say “ESG” anymore. He’ll just call it something else. That makes it harder to pass laws against.
The worst may be yet to come:
Would farmers be forced to buy battery-powered farm equipment? Prohibited from using oil or gas for fuel? Mandated to plant GMO seed exclusively and forced to use Big Pharma’s pesticides and herbicides? Could “sustainability” mean land “reforms” for the sake of “reparations” and “justice?”
“Transition investing” begs an ominous question. Transition to what?
On tips from R F and Mr. Freemarket.
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