We’re hearing a lot about ESG in the last couple of years. ESG, or Environment, Social, and Governance has been quietly infused into our government, banking, and business world. The United States had once been known as the bastion of capitalism and the liberals around the world hate us for that. It’s really a Marxist mechanism used to convert a capitalist society into a socialist one. ESG and capitalism cannot coexist, they are opposites.
The main focus of ESG is on being socially conscious of the environment for climate change. ESG manages its relationships with the community, employees, investors, and customers. Corporate decisions are made based on ESG scores when dealing with suppliers, banks, and investments. An example of such behavior would be choosing a power provider that uses more green energy sources than another, even though the costs are higher. Borrowing money for capital projects from financial institutions with higher ESG scores even though lower rates are available elsewhere.
Investing in ESG organizations is really the same as being taxed twice. The organization diverts part of your money to social, equity, and climate change causes. If you receive dividends or make money when selling the stocks, the federal government then taxes you again and uses that money for the same causes!
ESG Scoring
Higher ESG-scored companies tend to hire and are led by like-minded, climate change, equity, and diversity-driven people. The outcomes are based on a socialist view of the world rather than a for-profit goal.
Capitalism on the other hand is the system by which private or corporate enterprises make their decisions based on the needs of the free market. In a publicly traded corporation, shares are sold to investors, and they become part owners of that company. That company then has a fiduciary or legal responsibility to use those funds to yield a profit for the investors. Consumers of those products or services tend to guide the direction of the organizations, not the social impact of climate change or equity.
ESG was born out of socialism and has been pushed by Klaus Schwab and the World Economic Forum. The United Nations and Schwab’s desire is to achieve a single One World Order that is fundamentally socialistic. If their goal is achieved the world will be one communist state with the globalist elites in charge.
Klaus Schwab instituted a new term into our shareholder-free market society called “stakeholder capitalism.” Be aware of the proper pronunciation as they have very different meanings. A shareholder in an organization is a part owner of that organization and usually has voting rights. In stakeholder capitalism, the person has a stake in seeing the world become more equitable, fighting climate warming, and making everything more equitable. If you think that’s putting lipstick on a pig – you’re right! ESG and capitalism cannot coexist.
They are convincing the unknowing public there is a problem that exists when it really doesn’t. That’s followed by giving up everything you own to them and putting them in charge of your lives.
The Awakening Has Begun
The Harvard Business Review posted an article in March 2022, “An Inconvenient Truth About ESG Investing” showing ESG investment institutions were getting lower returns. That makes a lot of sense as a portion of the investment goes to fund things like the New Green Deal. We are now seeing bank failures as a result of poorly managed high ESG score banks.
Many state treasurers have uncovered the infiltration by the left into the corporate and banking world. States have a duty to provide the maximum growth and benefit for their state’s finances and pension funds. They are passing laws to combat the ESG wave and moving away from financial institutions that have bought into this socialist agenda.
Some states are now choosing different vendors based on their ESG buy-in. A great example is West Virginia where coal is a major player in their economy. Businesses that have a high ESG score are losing state contracts due to their opposing fossil fuel initiatives. Texas and Florida have stopped using BlackRock asset managers and other ESG investment organizations, moving billions of dollars to other financial institutions.
ESG and capitalism cannot coexist in our society. If the progressive left wants to fund climate change initiatives, they should have the right to donate to those causes. The free market needs to stay free and not be cut up by the socialists determined to bring about the new One World Order.
