ESG is the Perfect Storm Against Capitalism to Destroy Our Way of Life

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Choo Choo

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Perfect Storm

“O come, let us worship and bow down: let us kneel before the LORD our maker.”  Psalms 95:6 (KJV) 

Every Woke, Liberal, Progressive, and straight out Socialist will tell you that Environmental, Social and Governance (ESG) investing is an investment strategy you can use to put your money to work with companies that strive to make the world a better place. What it really is, is an anti-energy, anti-development, and anti-America strategy that helps to destroy our ability to produce low-cost, reliable energy.

Alex Epstein at industrialprogress.net says that “ESG poses as a moral and financially savvy movement that is an immoral and financially ruinous movement. It prevents poor countries from developing and threatens America’s security.

Few knew what the initials “ESG” meant 5 years ago, but it is well-known today among corporate investors. One hundred and eighty CEOs recently signed a Business Roundtable statement on business purpose. They have agreed to move away from trying to improve business and the investment outcome for its stockholders, focusing instead on goals involving political objectives.

Whoever gave banks this sort of control over the world to collude to reshape economies and energy infrastructure? The answer is the notorious World Economic Forum whose rich members meet annually in Davos, Switzerland, to discuss taking over the world under the leadership of Klaus Schwab, author of the now-infamous Great Reset, which describes how these jet setters hope to accomplish this.

Depriving citizens of the more than 6,000 products that were non-existent before 1900, made from the oil derivatives manufactured from crude oil, is immoral and evil as extreme shortages will result in billions of fatalities from diseases, malnutrition, and weather-related deaths. 

The pretense of liberal investment advisors that the market has long focused on social and environmental issues for companies that they invest in ⏤ is simply not true. A reading of the 1974 Employee Retirement Income Security Act (ERISA) shows that it was written to set minimum standards to ensure financial soundness for the employees. Late last year, the Department of Labor (DOL) published an additional rule aimed at fiduciaries of employee benefit plans.

The new rule states clearly in section C1 that “plan fiduciaries are not permitted to sacrifice investment return to take on additional investment risk to promote non-pecuniary benefits.” Liberal financial advisors are ignoring this rule as they accept ESG scores from third-party progressive evaluators of scores given to companies based on their environmental concerns, their social responsibility, and the way in which the companies are governed. The latter can be based on diversity and, believe it or not, their support for LBGTQ.

Blackrock, the world’s largest fund manager, is promoting ESG as a marketing pitch to younger investors who are more interested in improving society than investment returns. They ignore ERISA and write their own investing rules and ignore a more honest approach of attempting to repeal ERISA. They do not attempt that as it would alert young investors to the real rules for equitable investment clearly include political motivations. 

A little-known fact is that the ESG movement was drummed up by the United Nations, not exactly a financial behemoth. They likely recognized what Ron Stein said in an article at cfact.org on January 17, 2022, that ESG really stands for Extreme Shortages Guaranteed. They were surely guided entirely by socialist goals, and the elimination of fossil fuel utilization around the world. The number one issue giving com…

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