Must Watch: ESG (Environmental, social, & corporate governance) explained in 1-minute video – Best explanation you will ever see

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Scarecrow Repair
April 15, 2023 10:07 am

I never would have imagined something so short could do the trick. Someone ancient wrote that he apologized for writing such a long letter, but he didn’t have time to make it any shorter, and that’s me …. says the rambling rambler.

Ron Long
April 15, 2023 10:09 am

Disgusting but accurate.

Reply to  Ron Long
April 15, 2023 12:13 pm

Wittily sarcastic, yes, accurate? maybe; more apposite to check your direct or indirect mutual fund and/or ETF holdings. I can attest that indexed ETFs do/can hold the 4 PharmaHorsemen of The Apocalypse, one of which is an extremely heavily fined “organisation” via multiple lawsuits for far less than ethical and moral practices. ESG is as big a criminal fraud as mandating EUA drugs to be forced into the arms of babies.

Bill Powers
Reply to  Ron Long
April 15, 2023 1:04 pm

ESG, DEI, LGBTQ…rsandtuvwxyz, SEL, CDC, CIA, FBI, WEF and it all ties into the Great Reset. This alphabet soup of insanity helps keeps the average joe and jill dazed and confused while the lords of the legislatures, the World Economic Forum is churning out their woke army from the university campuses indoctrinated to implement their Globalist initiatives.

Their vision: to reduce the world population by 60% and subject 80% of the remainder to abject poverty and servitude until they can be replaced by robots and test tube babies. They, the Faceless Cultural Elite and their evil Spawn will subsequently live lives of Euphoric Majesty until the Sun Decides to end them all. And since all the world leaders will be luxuriating at the same SPA’s, it will surely be a Brave New World, Mr Huxley.

Ron Long
Reply to  Bill Powers
April 15, 2023 2:34 pm

Right, it is truly alarming how the WOKE nonsense spectrum is in parallel with the whole Climate Change idiocy.

April 15, 2023 10:17 am

Environmental: shared/shifted/obfuscated responsibility.

Social: Diversity of color judgments, class-based bigotry, and politically congruent (“=”) constructs.

Governance: Democratic/dictatorial duality with single/central/monopolistic solutions in redistributive change (e.g. progressive prices and availability).

Abortion? Human rites, too? Witch hunts carried out based on mystery, ignorance, and psychiatric dysphoria.

Frank from NoVA
April 15, 2023 11:37 am

If the applicant had simply stated that his business involved drilling in environmentally sensitive bird sanctuaries to produce lithium brines, he would have closed on his loan in under an hour, max.

Peta of Newark
April 15, 2023 11:49 am

They claim to be all ‘sensitive’ ‘caring’ ‘egalitarian’ ‘inclusive’ ‘open minded’ and fluff bunny lovely, then pull a stunt like this:

Headline:MP ‘fears for the future of our students’ after he’s ‘cancelled at university’
(he was/is the wrong colour) thus demonstrating perfectly closed minds and
The. Exact. Opposite. of all those things.

something is very badly wrong out there

Joseph Zorzin
April 15, 2023 11:50 am

Marc should put that on YouTube. I did look for it there but no luck.

Scarecrow Repair
Reply to  Joseph Zorzin
April 15, 2023 11:54 am

Maybe he tried, and it got canceled for malinformation.

Joseph Zorzin
Reply to  Scarecrow Repair
April 15, 2023 12:41 pm

meanwhile I just got a copy of Unsettled and reading it- I’d like to buy a copy for everyone in Congress

Reply to  Joseph Zorzin
April 15, 2023 1:34 pm

You do know about leading horses to water, do you not?

Joseph Zorzin
Reply to  AndyHce
April 16, 2023 4:45 am

well, maybe get their staffs to read it- that would be a start- what I like about Koonin is his soft spoken, low key way of presenting his ideas- I find it amazing that everyone doesn’t at least give him a chance- he’s very convincing, same with Lindzen- as if these 2 would lie to benefit FF industries- compared to obviously snaky characters like Mickey Mann

April 15, 2023 1:43 pm

Never take business advice from people that hate business.

Rud Istvan
April 15, 2023 1:57 pm

Investment funds that demand ESG, and corporate executives who bend to them,(think AB Bud Light Social) are both opening themselves to major securities lawsuits. It has been long well established law that the only duty corporate management owes its shareholders is to maximize their financial return. Doesn’t matter if some big shareholders (Blackrock) want something else (ESG).

In the 1970’s (when I went to a very famous graduate joint law/business program) that basic fundamental of corporate law got slightly broadened legally to ‘maximize stakeholder returns’. Stakeholders were shareholders, employees, and customers. Balancing them sort of made fiduciary sense. Labor strikes because wages low, shareholder returns suffer. Customers revolt, (Bid Light) shareholder returns suffer (InBev [AB owner] lost $6 billion of market cap in first week, and it ain’t over yet).

ESG is none of the above. Hence the potential legal liability exposure. A $6 billion damages class action shareholder lawsuit against AB is an easy win under existing US corporate law. Will probably happen. There are corporate ‘1/3 contingency fee’ class action corporate lawsuit specialists to whom a $2 billion payout looks very enticing for very little hard work. Heck, they would probably sue then settle on the class behalf for half, only netting $1 billion for themselves.

Reply to  Rud Istvan
April 15, 2023 7:36 pm

What corporate law says shareholder returns are the only legal corporate goals?

Pleas no waffle about fiduciary duty etc as that applies to any employee to put their employers interests ahead of their own personal ones, or to a lawyer when they are working for you or a company

remember companies are free to have their own constitution to aim for what ever they wish.

Bill S
Reply to  Duker
April 16, 2023 6:50 am

The law that puts Financial returns above all other considerations as a Fiduciary is ERISA. Any corporation, union, etc managing pension assets for the benefit of others is a Fiduciary and is subject to the ERISA standards.

Invest in save the planet companies with your own money if you wish, but not money on which people are depending upon for their retirement years into the future.

ESG funds have underperformed the S&P index.

ESG measures are meaningless because there are no common standards that apply across the board to all companies. Not only are there no common standards, but there are no common measurements.

Financial returns are easily measured and compared by the stock and bond markets, which trade openly every day.

Financial reporting to analyze any particular company is under GAAP accounting rules. Financial accounting results reported to the SEC rules must comply with GAAP for all publicly traded companies. GAAP accounting rules are governed by the FASB, Financial Standards Accounting Board.

These rules are widely understood by everyone in the financial world, and virtually everyone understands the rules the same way.

ESG measures are made up on the basis of opinion, feelings, and political ideology, and have no useful economic value.

Last edited 1 month ago by Bill S
Dave Yaussy
Reply to  Duker
April 17, 2023 5:58 am

I’m not aware that all employees have a fiduciary duty to their employers. Nor do attorneys have a fiduciary duty to their clients, unless hired in that capacity. We have ethical obligations, which are somewhat different.

A board of directors, on the other hand, are representatives of the shareholders and act in their interest in running the company. True, the shareholders can decide to pursue altruistic ventures instead of remunerative ones, but most of us who elect those boards would prefer they make money, send us our share, and let us make the charitable decisions.

Last edited 1 month ago by Dave Yaussy
John Oliver
April 15, 2023 4:56 pm

I want my country back. Undercover FBI agents at Latin Mass. FBI investigations into parents attending school board meetings. Oh let’s not deny any woman the “ right” to kill a little baby due to a thin layer of flesh between the baby and the out side world. When these woke a holes get sick and old let’s designate them as “ inconvenient “ an exercise our right to chose to terminate- them!

John Oliver
Reply to  John Oliver
April 15, 2023 5:31 pm

of course on don’t mean that literally , just a figurative rhetorical construct.

Reply to  John Oliver
April 15, 2023 7:39 pm

I dont think your rhetorical duty has been satisfied. Seems a few urban myths and change is happening how do I get off pleadings mashed up

April 15, 2023 5:32 pm

Would love to share this, can’t, it is on twatter. I am not giving my personal information to those lie spewing, identity theft c*cksuckers.

Reply to  2hotel9
April 16, 2023 8:47 am
April 15, 2023 7:30 pm

Henry Ford had ESG long before it was a thing
The company had inspectors to check the employees marital status, home cleanliness.
Of course it was ‘old time values’ he insisted on

April 15, 2023 8:53 pm

There should be two doors at every lending institution. One door for those who believe we are in a climate crisis and the government can fix it and the other for people who want to start or expand their company. It would be nice if the different customer didn’t have to see one another.

April 16, 2023 5:00 am

I like it but they could have done better by having a far more intelligent sounding Oil Man. He doesn’t refute any of the requests, he simply acts as a helpless victim.

Reply to  CO2isLife
April 16, 2023 11:51 am

Agreed. As a generality, Oil men aren’t hapless, ignorant executives like this caricature. Someone has been watching too many Dallas reruns.

Reply to  CO2isLife
April 17, 2023 6:43 pm

I thought of a different ending, too. When the banker asks if he’s trans or non-binary, the oil man says in taxi-driver style, “are you asking me if I’m a girly-man” as he grits his teeth and advances on the banker. There’s a quick wipe and fade in a few minutes later, as we see the banker on the floor with his front teeth missing and the police are prepping to cuff the oil man. They they ask him his name. He replies, looking directly into the camera, “Barbara, Barbara Fonda,” as he winks at the audience and the police unlock the cuffs and let him go.

April 17, 2023 5:47 pm

Great stuff. Now you’ve got me feeling all “classical”

April 19, 2023 9:46 am

This is the social credit system. It’s already here.

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