SIGforum.com Main Page The Lounge Politicized Investing - Blackrock punishes 53 companies over inaction on climate change
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Member |
I would absolutely support this and kick in some money. I’m serious as a heart attack and ready to do something to fight the climate change hoax in particular, and ESG in general. Do you really think that we could make this work? “It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.” | |||
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Member |
Isn't that one of Para's pet peeves??? Not perusing the thread before posting?? Think I've read that recently. Just checking..... (Hopefully it's obvious that isn't meant for you, oddball.) "If you’re a leader, you lead the way. Not just on the easy ones; you take the tough ones too…” – MAJ Richard D. Winters (1918-2011), E Company, 2nd Battalion, 506th Parachute Infantry Regiment, 101st Airborne "Woe to those who call evil good, and good evil... Therefore, as tongues of fire lick up straw and as dry grass sinks down in the flames, so their roots will decay and their flowers blow away like dust; for they have rejected the law of the Lord Almighty and spurned the word of the Holy One of Israel." - Isaiah 5:20,24 | |||
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Drill Here, Drill Now |
Yes, but it'd be an uphill battle. The key is the initial media publicity needs to land an entity with deep pockets. Engine No 1 landed 2 large pension funds and 3 Wall Street firms. That shifted the narrative from who Engine No 1 was to how many proxy votes they had. Ego is the anesthesia that deadens the pain of stupidity DISCLAIMER: These are the author's own personal views and do not represent the views of the author's employer. | |||
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Diablo Blanco |
While Blackerock was instrumental in crafting the ESG guidelines and framework, ESG scoring is a Department of Labor ruling as it relates to defined benefit plans (pensions). This rule was crafted by Biden’s DOL and pertains to pensions as it is the only place that DOL has control over. As someone mentioned before, ExxonMobil added a couple of environmental activists to their board to get the score needed to stay in the institutional pension space. I truly suspect AB InBev leadership was jockeying their score around when they hired that guy pretending to be a girl a few years ago. Blackrock is responsible for making this whole thing happen and I hope a day comes when they are punished for it. _________________________ "An appeaser is one who feeds a crocodile - hoping it will eat him last” - Winston Churchil | |||
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| Drill Here, Drill Now |
Not quite. ExxonMobil didn't voluntarily add board members to get a ESG score. Engine No 1 created a shareholder initiative and shareholders forced ExxonMobil board change. That's why I proposed Engine P210 to force change at Blackrock. AB InBev was a different case where they were voluntarily monkeying around to get an ESG score Ego is the anesthesia that deadens the pain of stupidity DISCLAIMER: These are the author's own personal views and do not represent the views of the author's employer. | |||
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SIGforum.com Main Page The Lounge Politicized Investing - Blackrock punishes 53 companies over inaction on climate change
Main Page The Lounge Politicized Investing - Blackrock punishes 53 companies over inaction on climate change© SIGforum 2024