Holy C^%@, Authoritarian Evil of ESG Emerges at Texas Hearing

The pushback against ESG steps into high gear with hearing at the Texas Senate Committee on State Affairs.

Originally tweeted by Will Hild (@WillHild) on December 15, 2022.

.@SenBryanHughes starts off the Texas Senate Committee on State Affairs ESG hearing by laying out how the ESG agenda poses a threat to both the security of American families and our overall national security:

Texas State Sen. @loiskolkhorst highlights how ESG investing is an abandonment of fiduciary duty, because ESG funds routinely underperform benchmark indexes:

The first witness, @bmbrigham, told the story of how Wall Street’s ESG scam has affected him and his business personally, outlining how @CreditSuisse ( $CS ) indicated that they would deny him for a loan if he didn’t tweet out various points praising the green energy agenda:

Executive Chairman of Brigham Minerals, @bmbrigham, highlights how companies in China, using slave labor to produce solar panels, are being given higher ESG ratings than his company because his company operates in the oil & gas industry:

Absolute insanity.

.@SenBryanHughes grills @BlackRock‘s Head of External Affairs, Dalia Blass, about BlackRock’s clearly contradictory statements regarding their role in the radical ESG group, Climate Action 100+:

.@SenBryanHughes sends a clear message to @BlackRock‘s Head of External Affairs, as she attempts to talk in circles around ESG-related questions to avoid answering:

Filibustering won’t work in Texas. The people want answers, they want transparency, not ESG talking points.

When pressed on @BlackRock being “fired” by Florida @GovRonDeSantis over the company’s ESG activism, BlackRock’s Head of External Affairs claimed that the company doesn’t use ESG scoring for investments and doesn’t know why they were fired by the state of Florida:

.@StateStreet Global Chief Investment Officer Lori Heinel sends a shot across the bow at @BlackRock and CEO Larry Fink:

“We are actually quite concerned about the rise of stakeholder capitalism as a class of investing…”

🚨 @StateStreet Global Chief Investment Officer Lori Heinel admits ESG is *NOT* a performance enhancer:

This is huge. I wonder how many @StateStreet ESG fund prospectuses admit that?

.@StateStreet‘s Global Chief Investment Officer panics when caught in a blatant lie and looks to the company’s lawyers for an out:

“Uuhhmm, council…”

🚨 @StateStreet Global Chief Investment Officer Lori Heinel accidentally admits that State Street had no “formal financial analysis” to back-up their vote in-favor of forcing an American energy company to conduct a “racial equity audit”:

Originally tweeted by Will Hild (@WillHild) on December 15, 2022.


Below are three articles on ESG recently published here.

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AGW is Not Science
December 15, 2022 6:21 pm

Way to go, Texas! Drag that ESG shit out into the light where everyone can see the horrible truth of it.

mikelowe2013
Reply to  AGW is Not Science
December 15, 2022 7:34 pm

And then, please, spread it worldwide. I suspect it is starting to happen here in the Pacific!

cilo
Reply to  mikelowe2013
December 16, 2022 2:31 am

Drag that ESG shit out…..spread it worldwide.

yes… but is there enough to replace the nitrogen fertiliser these geniuses had banned?

sturmudgeon
Reply to  cilo
December 17, 2022 1:37 pm

Yep! Recognizing the ‘fertilizer’ is the first step.

sturmudgeon
Reply to  sturmudgeon
December 17, 2022 1:37 pm

Then shoveling it out of the way.

Joseph Zorzin
Reply to  AGW is Not Science
December 16, 2022 4:04 am

Unfortunately, we in The People’s Republic of Massachusetts, or The People’s Repubic of California, or The People’s Republic of NY, etc. will not see the horrible truth if we only look at local media or the likes of CNN, or the Washington Post, NY Times, Boston Globe….

Gunga Din
Reply to  Joseph Zorzin
December 16, 2022 10:38 am

I lived in New Hampshire back in the early ’80’s. (Iron Curtain still up. California still a place people wanted to visit. Ted Kennedy in office. etc.)
There was a joke:
“Question: Have you ever been to a Communist country?
Answer: No, but I’ve been to Massachusetts.”

Janice Moore
Reply to  Gunga Din
December 16, 2022 10:49 am

Heh. Now, I can, sadly, say that of my home state.

Pal: Ever been to a Communist country?
Me: Yeah. The west half of Washington State. 😕

sturmudgeon
Reply to  Janice Moore
December 17, 2022 12:16 pm

Ditto!

DonM
Reply to  AGW is Not Science
December 16, 2022 2:41 pm

I happened across a ‘Maureen Kline’ article, saying how great ESG is, that it will never go away, and that it is just misunderstood.

Maureen is a Vice-President at Pirelli Tires.

My post is a response to your request to ‘drag that shit into the light’. Stay away from Pirelli Tires … do not support them … don’t buy … let them know why.

(looking further, it seems that a whole lot of the major tire industry has been co-opted)

HB
December 15, 2022 6:29 pm

No videos with supported format found what format are they? , other than that this looks very encouraging that the ESG crap might be failing

Streetcred
Reply to  HB
December 15, 2022 6:31 pm

Not working for me either. 🙁

Bryan A
Reply to  Streetcred
December 15, 2022 6:55 pm

Perhaps they’re fixed they work for me on mobile

Janice Moore
Reply to  Bryan A
December 16, 2022 10:51 am

A-OK on my laptop.

Gunga Din
Reply to  Charles Rotter
December 16, 2022 12:58 pm

I’m not a tech expert but at https://www.videolan.org they offer a free download of a media player called VLC. That MIGHT solve the problems?
(Hopefully someone who is tech expert will chime if I just gave out bad advice.)

stinkerp
Reply to  HB
December 16, 2022 11:25 pm

They are on the Texas Senate Audio/Video Archive. They require Windows Media Player.

Here are direct links:
https://senate.texas.gov/av-archive.php

Senate Committee on State Affairs (Part I)
https://tlcsenate.granicus.com/MediaPlayer.php?view_id=52&clip_id=17105

Senate Committee on State Affairs (Part II)
https://tlcsenate.granicus.com/MediaPlayer.php?view_id=52&clip_id=17107

You can find a shorter version on YouTube which only has the testimony of Blackrock’s representatives.

BlackRock’s Testimony At The Texas State Senate Committee Of State Affairs – Part One
https://www.youtube.com/watch?v=qsPsp3H0pBA

BlackRock’s Testimony At The Texas State Senate Committee Of State Affairs – Part Two
https://www.youtube.com/watch?v=vkOnmrubMSs

Here are the same points in the videos above (starting with video 5):

@SenBryanHughes grills @BlackRock‘s Head of External Affairs, Dalia Blass, about BlackRock’s clearly contradictory statements regarding their role in the radical ESG group, Climate Action 100+:

Video 5
https://www.youtube.com/watch?v=qsPsp3H0pBA&t=17m3s

@SenBryanHughes sends a clear message to @BlackRock‘s Head of External Affairs, as she attempts to talk in circles around ESG-related questions to avoid answering:

Video 6
https://www.youtube.com/watch?v=qsPsp3H0pBA&t=21m42s

When pressed on @BlackRock being “fired” by Florida @GovRonDeSantis over the company’s ESG activism, BlackRock’s Head of External Affairs claimed that the company doesn’t use ESG scoring for investments and doesn’t know why they were fired by the state of Florida:

Video 7
https://www.youtube.com/watch?v=qsPsp3H0pBA&t=33m4s

@StateStreet Global Chief Investment Officer Lori Heinel sends a shot across the bow at @BlackRock and CEO Larry Fink:

“We are actually quite concerned about the rise of stakeholder capitalism as a class of investing…”

Video 8
https://www.youtube.com/watch?v=qsPsp3H0pBA&t=1h38m31s

etc.

Tom Abbott
Reply to  HB
December 17, 2022 6:14 am

My “NoScript” add-on for Firefox is flagging all these links as questionable.

sturmudgeon
Reply to  Tom Abbott
December 17, 2022 12:18 pm

Use Brave?

Tom Abbott
Reply to  sturmudgeon
December 18, 2022 3:26 am

No, I just don’t go to links that NoScript flags.

n.n
December 15, 2022 6:44 pm

Intermittent/unreliable/renewable Green blight, not green.

heme212
December 15, 2022 7:40 pm

they’ve got the coffee. now they want the oil.

MarkH
December 15, 2022 9:04 pm

And now Australia has just passed legislation to enact price controls on gas. The government is turning (or revealing itself) to be fully on board with the failed Socialist policies that have failed time and time again around the world. The price of gas may remain fixed, but the availability of gas will rapidly diminish. Then people will wonder why their greenhouse tomatoes are no longer available, businesses, big and small, that rely on a reliable supply of gas will fail. They will not stop at gas either, their insanity will continue, likely until enough people learn by experience how much of a bad idea this is. Currently, it’s all but impossible to convince them that it’s not the best idea ever. They love the idea of the government paying for everything and capping the prices. These people are so uneducated in economics that they think the government actually has money to give people. They have nothing, other than what they can extract from tax payers through threats of violence, and steal from those with no net debt through the printing, ex nihilo, of fiat currency.

Duker
Reply to  MarkH
December 15, 2022 9:51 pm

The gas belongs to the government.in Australia

Once they even had a ban on iron ore exports up till around Mid 1960s , again they owned the mineral rights and could do so and of course it applies to dometic production only is still much higher than the gas price before the Russian invasion when they were still making a good return on capital

The free market did more to destroy production when prices fell from 2014 to 2019

Even now export of US LNG requires a permit to do so so as not to harm dometic market, when im sure the owners of gas want to sell as much cheaper as possible in higher prices to international markets…..but not under US law

Last edited 1 month ago by Duker
Rod Evans
December 16, 2022 12:08 am

Why do organisations fixated on so called Green and environmental policies, find it so difficult to answer simple straightforward questions?
Blackrock have made it clear in their media releases, they’re in support of ESG (Economic Suicide Guaranteed). With that being the case why are its spokespersons so coy about admitting what they are up to?

observa
Reply to  Rod Evans
December 16, 2022 1:13 am

Wokespeak

Joseph Zorzin
Reply to  observa
December 16, 2022 4:07 am

nice- word of the year!

rah
December 16, 2022 2:49 am

Thanks Charles, I really enjoyed watching excerpts of the BlackRock goose getting slowly cooked.

It sure seems they are done in Texas!

The question is; after Texas, who’s in line next to go after them?

Last edited 1 month ago by rah
Joseph Zorzin
Reply to  rah
December 16, 2022 4:08 am

certainly not the “left coast” or the northeast

rah
Reply to  Joseph Zorzin
December 16, 2022 7:14 am

No doubt! But that still leaves a lot of flyover country. But of course
Western Europe is speeding it’s journey down into the valley of death.

Europe’s Largest Bank to Halt Financing of New Oil and Gas Projects (breitbart.com)

Joseph Zorzin
Reply to  rah
December 16, 2022 8:48 am

I see on that page:

Hailing the move, the chief executive at climate finance campaign Make My Money Matter, Tony Burdon said: “It’s another nail in the coffin for fossil fuel expansion, and a massive signal to other UK banks that the game is up on new oil and gas.”

More like another nail in the coffin of our civilization. When bankers start talking like this we know we have a problem.

rah
Reply to  Joseph Zorzin
December 16, 2022 8:53 am

Major banks here in the US have been doing that in the interest of “gun control” for some time now.

Joseph Zorzin
Reply to  rah
December 16, 2022 9:06 am

Neither of these issues are relevant to banking. They should stay out of politics.

Tom Abbott
Reply to  Joseph Zorzin
December 17, 2022 6:18 am

It sounds like a bank that was willing to finance new oil and gas exploration would have a lot of customers. It looks like a financial opportunity for someone.

sturmudgeon
Reply to  Tom Abbott
December 17, 2022 12:22 pm

I will presume that you have not been following the control freaks that are in charge in the world banking clique.

Tom Abbott
Reply to  sturmudgeon
December 18, 2022 3:28 am

I’ve been following them. I just assume that not all people will agree to not fund oil and gas exploration.. Some will take another path.

Janice Moore
Reply to  rah
December 16, 2022 11:04 am

Well done. 😊

rah
Reply to  rah
December 16, 2022 1:27 pm

If I had to bet, my money would be on Oklahoma being the next.

Tom Abbott
Reply to  rah
December 17, 2022 6:21 am

https://www.foxnews.com/politics/oklahoma-governor-stitt-esg-anti-american-political-agenda

Oklahoma Gov. Stitt: ESG is an anti-American political agendaESG standards hurt American interests, Oklahoma governor says
You might be right.

HotScot
December 16, 2022 3:58 am

Am I wrong in believing Vanguard have abandoned ESG. The rest will follow if so.

gezza1298
Reply to  HotScot
December 16, 2022 7:44 am

They left GFANZ – the greenie group founded by the incompetent moron and former Bank of England governer Mark Carney.

Dave Andrews
Reply to  HotScot
December 16, 2022 7:45 am

No

Brad-DXT
Reply to  HotScot
December 16, 2022 9:25 am

I wouldn’t say they have abandoned ESG.
I’m sure the lawsuits and investigations have caused them to become better at hiding their involvement in the corruption of their fiduciary duties.

The levers of control necessary for the communist takeover of the world include the creation of more poor people since poor people are easier to control and will not fight back if you are providing everything for them to live.

The narrative for ESG and DEI programs states they are for humanity’s benefit while they are actually insidious control mechanisms meant to give the elites more power. The elites are not going to follow the dictates that they would have the plebians follow.
 

Tony_G
Reply to  HotScot
December 16, 2022 9:57 am

Seems a couple contradictory replies may suggest otherwise. I don’t know either way.

Are there any of these funds that we know for sure abandoned or never adopted ESG?

sturmudgeon
Reply to  Tony_G
December 17, 2022 12:51 pm

I am awaiting a reply from TRowePrice.

jtom
Reply to  HotScot
December 16, 2022 2:55 pm

“Reuters)—Vanguard is pulling out of a major investment-industry initiative on tackling climate change in order to show that it acts independently and to provide clarity on its views to investors, the world’s top mutual fund manager said on Wednesday.
Top investors, such as Pennsylvania-based Vanguard, have faced growing pressure from Republican U.S. politicians over their use of environmental, social, and governance (ESG) factors in picking and managing securities.

The effort, known as the Net Zero Asset Managers (NZAM) initiative, was launched in late 2020 to encourage fund firms to reach net zero emission targets by 2050 and limit the rise in global temperatures. As of Nov. 9, NZAM counted 291 signatories representing some $66 trillion in assets under management.”

ewinb
December 16, 2022 5:59 am

The unwillingness to be fully honest and transparent is itself a disqualification of suitability for any firm seeking a fiduciary relationship.

mleskovarsocalrrcom
December 16, 2022 10:59 am

WEF, ESG, AGW, and CRT, are all products of Marxist propaganda and the people, who have thus far ignored the consequences hoping they would just go away, are beginning to wake up to the damage they are causing to society and living standards.

Janice Moore
December 16, 2022 11:59 am

God, bless Texas.

sturmudgeon
December 17, 2022 1:36 pm

Encouraging early probes into this nonsense on behalf of investors totally uninterested in ‘social credit scoring’ by their investment firms.

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