Joseph Gunderson - March 10, 2022 at 08:26AM
Have you ever thought about why companies choose to dump money into stupid social causes? James Lindsay let us in on the secret—or at least, it probably wasn’t something terribly well-known. The Environmental Social and Governance (ESG) score set down by the European Union (EU) pushes corporations to invest their money in particular ways, and those ways are what the globalists at the EU want them to be.
As the Daily Mail explains, “Normally, companies exclude investing in firearms to win an 'ESG' stamp, but US banks are now suggesting the EU could classify the defense sector as an ethical investment - as long as it was used against Putin.”
People want to punish Russia and send guns to Ukraine, so they have floated the notion that guns, at least when they’re used against Putin, should be greenlighted under ESG. The EU should give kudos to companies who divest from Russia and buy guns and ammo for everyone who needs them to fight Russia.
The plan: ESG funds will invest in defense companies to make the weapons required to fight wars with hostile regimes we buy energy from, because ESG funds won't invest in energy companies.pic.twitter.com/Z6OlNR6yvs— Marc Andreessen (@Marc Andreessen) 1646726156
I’m not necessarily against the idea of helping Ukraine defend itself. But the idea of the EU manipulating private businesses to do whatever the EU wants is a little gross. Elon Musk found the entire thing ridiculous, tweeting, “ESG rules have been twisted to insanity,” adding, “ESG should be deleted if not fixed.”
ESG rules have been twisted to insanity— Elon Musk (@Elon Musk) 1646747698
ESG should be deleted if not fixed— Elon Musk (@Elon Musk) 1646763988
In my humble opinion, I don’t think such a scoring system should exist. Companies are money-making ventures, and as such, they should act in the best interests of profits, which necessitates they take into account best practices—a business openly supporting hostile regimes won’t be attracting many investors.
I believe corporations would be less apt to jump into political waters to pander to ridiculous social causes if the ESG didn’t exist. There’s no point to poison one’s product or service with a possibly divisive position if there’s absolutely no benefit.
I’m with Musk. Delete the ESG. Or perhaps (and this is a longshot), maybe CEOs can grow a pair and tell the EU to screw off. It won’t happen, but hey, it is an option.
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from Steven Crowder Says
