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The acronym ESG stands for “environmental, social, and governance.” It’s a vague categorization or standard applied to companies and investors to determine how, for lack of a better word, “woke” they may or may not be.
Woke capitalism embraces the idea of “stakeholder capitalism.” Stakeholder capitalism, which is what the Business Roundtable and the World Economic Forum (WEF) call for, demands that companies toe the ESG line, not necessarily to private shareholders, but to the often unelected and their woke socialist standards. The latter include equality of outcomes, hiring decisions, diversity requirements, income equality, and more.
ESG has both red and green leftist political and ideological preferences that marry business with government policymakers, not merely business and shareholder interests. That, by the way, is fascism.
In short, the ESG investing agenda is an attempt by the U.N. and the WEF, both supranational organizations, to arbitrarily impose their will on private and public companies. The objective is to compel them to comply with their woke standards, not U.S. laws, to determine how they should operate, what policies they should have, who they should do business with, and what political and social agenda they should promote within their organization, even who they can have on their boards of directors.
This toxic perspective governs most of the left thinking about requiring corporate political obedience to causes that have nothing to do with the free market.
As Tesla CEO Elon Musk wrote on Twitter: “ESG is a scam. It has been weaponized by phony social justice warriors.”
Musk is right, of course.
ESG is indeed a weapon that’s being used to attack Americans’ liberty, the traditional U.S. capitalist economy, and its millions of big and small businesses. ESG needs to be destroyed before it destroys us.
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Sounds like a roundabout way of arriving at global fascism, to me.
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