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.
Way to go, Texas! Drag that ESG shit out into the light where everyone can see the horrible truth of it.
And then, please, spread it worldwide. I suspect it is starting to happen here in the Pacific!
yes… but is there enough to replace the nitrogen fertiliser these geniuses had banned?
Yep! Recognizing the ‘fertilizer’ is the first step.
Then shoveling it out of the way.
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….
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.”
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. 😕
Ditto!
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)
No videos with supported format found what format are they? , other than that this looks very encouraging that the ESG crap might be failing
Not working for me either. 🙁
Perhaps they’re fixed they work for me on mobile
A-OK on my laptop.
MP4’s perhaps there’s a codec in use that old computers running unsupported browsers can’t render.
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.)
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.
My “NoScript” add-on for Firefox is flagging all these links as questionable.
Use Brave?
No, I just don’t go to links that NoScript flags.
Intermittent/unreliable/renewable Green blight, not green.
they’ve got the coffee. now they want the oil.
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.
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
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?
Wokespeak
nice- word of the year!
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?
certainly not the “left coast” or the northeast
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)
I see on that page:
More like another nail in the coffin of our civilization. When bankers start talking like this we know we have a problem.
Major banks here in the US have been doing that in the interest of “gun control” for some time now.
Neither of these issues are relevant to banking. They should stay out of politics.
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.
I will presume that you have not been following the control freaks that are in charge in the world banking clique.
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.
Well done. 😊
If I had to bet, my money would be on Oklahoma being the next.
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.
Am I wrong in believing Vanguard have abandoned ESG. The rest will follow if so.
They left GFANZ – the greenie group founded by the incompetent moron and former Bank of England governer Mark Carney.
No
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.
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?
I am awaiting a reply from TRowePrice.
“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.”
The unwillingness to be fully honest and transparent is itself a disqualification of suitability for any firm seeking a fiduciary relationship.
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.
God, bless Texas.
Encouraging early probes into this nonsense on behalf of investors totally uninterested in ‘social credit scoring’ by their investment firms.