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Ingraham: ESG movement is corporate America鈥檚 thought and governance police - YouTube
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the left goes corporate that's the focus
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of tonight's angle
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environmental
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social
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governance
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well the acronym esg is a classification
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and rating system that globalists are
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now using to pressure american companies
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into adopting progressive practices at
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every level of their operations
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and like so many really bad ideas it of
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course originated at the united nations
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now for years they've aggressively
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marketed the concept as good for
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companies good for you and good for the
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planet
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esg propaganda even comes in the form of
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really creepy videos
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asset managers who embrace the
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principles for responsible investment
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undertake to incorporate esg issues into
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all investment analysis and
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decision-making processes
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be active owners and incorporate esg
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issues into their ownership policies and
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practices
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doesn't it sound great kids well
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basically think of those behind the esg
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movement as the self-appointed thought
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and governance police for corporate
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america
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so companies not on the s p 500 esg
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index
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are punished by institutional investors
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and asset managers who themselves are
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pressured to drop offending companies
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from their mutual funds or their
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pensions
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now one of the biggest promoters of esg
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is a guy named larry fink the ceo of
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blackrock
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blackrock is the world's largest asset
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manager and this means one company has
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an enormous amount of leverage to force
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other companies to go woke if they want
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to have the highest performing
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stock in their industry i think what i'm
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requesting them is
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is what i see from what where our
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clients money's going so if they don't
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choose to do this
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i think you're going to start seeing
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some of these companies having lower
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performing companies if you're going to
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have a high performing
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stock over a long period of time
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you need to be doing this and blackrock
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is doing it on b doing this for
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ourselves on behalf of our shareholders
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we're doing this this on behalf of our
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employees and our clients how benevolent
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what a humanitarian
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larry fink will help the world fight
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against pollution and climate change
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human rights abuses and mean bosses
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uh except
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in the place where all of that is
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rampant
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china
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blackrock is heavily invested there
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which means it operates with the
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permission of its communist party
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now larry might want to check out the
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new trove of documents detailing the
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horrifying abuses against uighur muslims
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at chinese detention camps going back to
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2018
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but i guess that's not going to stop the
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blackrock china bond fund or any of
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their other chinese ventures
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blackrock is heavily heavily entrenched
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there and their investments are only
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going to get bigger
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as usual with these self-appointed
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guardians of climate hypocrisy and
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double standards are always bubbling
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right below the surface
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and ditto for their political allies and
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government who of course they love this
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esg stuff
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but what everyone needs to know
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is that esg scores
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are based on a set of totally arbitrary
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arbitrary standards
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and they actually could end up
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kneecapping great american companies
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almost overnight
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now not surprisingly elon musk saw right
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through the esg scam pretty much from
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the beginning
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and now that tesla was just booted from
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the esg index while exxon stayed on
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musk's really on the war path
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exxon is rated top 10 best in the world
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for environment social and governance
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by s p 500 while tesla didn't make the
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list esg is a scam it's been weaponized
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by phony social justice warriors he
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tweeted
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of course he's right
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and the exclusion has only worsened
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tesla's stock drop which has tumbled
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approximately 28 percent
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in just the past six weeks alone
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so brushing aside the political
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motivation here margaret dorne who's s p
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dow jones is head of esg indices
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she tries to justify tesla's score by
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citing claims of racial discrimination
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and poor working conditions made against
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its fremont california factory and its
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response to vehicles autopilot crashes
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well
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the more amorphous and ambiguous esg
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standards are
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the more room to act your political
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enemies right and reward your friends
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even esg proponents like dustin lance
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senior advisor at esg global advisors
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concedes that clear metrics are a real
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problem here he cites several factors
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including a confusing lexicon of
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categories and taxonomies and acronyms
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which have evolved over several years
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but lance thinks that es genius needs
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better marketing wait a marketing
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problem that's like saying biden's
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economy is caused by a marketing problem
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no it's just bad policies
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so given the blowback that we saw
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against disney for its esg inspired
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moves against florida parents and then
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you know musk's complaints and his reach
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i think the esg crowd they know that
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we're on to them and their defense is
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pathetic
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dustin lance tweeted esg is rapidly
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becoming politicized and it's now
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heavily exposed to disinformation risks
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incorporating esg factors into business
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and investment decisions is not about
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political views it's about driving
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long-term value for shareholders and
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stakeholders i'll give you a translation
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here
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capitalism made america too rich it's
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time to change that and esg can help
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level the playing field got it
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now musk himself is too powerful to
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silence but they're going to try
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other powerful interests will rise up to
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protect the woke agenda of esg by urging
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social media censorship of their
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detractors of course
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and that's taking a page from the covid
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police's playbook after all and look
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they're going to cite overriding health
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and safety concerns i don't put anything
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past these people
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by the way this is all the rage at davos
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of course
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we are finding ourselves in a place
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where we're we have increasing
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polarization everywhere and everything
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feels binary when it doesn't need to be
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so i think we're going to have to think
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about a recalibration of a whole range
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of human rights that are playing out
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online you know from freedom of speech
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to the freedom to
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you know to be free from online violence
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of course this is music to china's ears
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because the elites have finally come
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around to the value of suppressing
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speech
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of intimidation tactics implicit threats
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we'll shut you down and the use of broad
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generalities and also a fantasy of a
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carbon neutral world
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for the syst the world to reach um
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the world to reach
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this
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zero
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net
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zero
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carbon
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world
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we're going to have to invest
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estimates more than 50 trillion dollars
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into new technologies
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i think you get it right that the entire
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esg movement it's just another way to
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circumnavigate around the american
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voters
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greening the planet it's going to make
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people like larry fink and his friends
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richer but it's not going to mean a
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freer and more prosperous america for
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the average person no way
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so musk and other corporate leaders must
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band together
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have the courage to stand up to the woke
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bullies of blackrock and call out the
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global elites for the frauds that they
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are
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and that's the angle hey sean hannity
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here hey click here to subscribe to fox
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