https://legalinsurrection.com/...rashing-and-burning/

ESG is mostly a cover for “climate change” and social-justice activism, and as such its real agenda is to divert private capital to politically-favored causes , such as “green” energy and disguised redistribution schemes benefitting favored client groups like Black Lives Matter.

Investment funds that follow the ESG mantra are suffering from sub-par investment returns, and suddenly fear shareholder lawsuits for failing their fiduciary duty to maximize returns. Moreover, the attempt to enshrine ESG by regulation through the Securities and Exchange Commission (SEC) is running into political opposition on Capitol Hill and appears vulnerable to legal challenge.

Suddenly the biggest boosters of ESG investment, and especially de-investing in oil, natural gas, and coal production, are backtracking, with J.P. Morgan CEO Jamie Dimon telling Congress last week that cutting off credit to fossil-fuel production would be “the road to hell” for America. Late in the week the state of Louisiana announced that it was pulling all of its assets invested with BlackRock, one of the prime cheerleaders of ESG.

The "climate emergency" movement, centered in the West, has restricted
1. fossil fuel investment
2. fossil fuel production
3. fossil fuel transport

This has artificially suppressed fossil fuel *supply*, making industry unable to meet growing demand. Which means sky-high prices.

For fossil fuel energy to remain low-cost requires sufficient investment. But the "climate emergency" movement has used government and private entities, often under the banner of "ESG," to punish and suppress it—meaning less fossil fuel supply.

“Dilbert,” a comic beloved by many over the years, was dropped from 77 publications after over three decades.

Created by cartoonist Scott Adams, “Dilbert” uses satire to poke fun at traditional office life on a number of issues, which recently included “ESG.”

As this particular comic strip explained, the ESG movement seeks to use a new set of criteria—environmental, social, and governance—to evaluate businesses and consumers based on how well they align with the progressives’ woke priorities, including climate radicalism, gender ideology, gun control, and even abortion on demand.

Probably not by coincidence, “Dilbert” was dropped from many major publications after pointing out the lunacy of such policies

Small-business owners, investors, and consumers are the real targets of this rage against our culture and normal business practices. The ESG scorekeepers are looking closely at everything we do to identify “victims” and “oppressors.”

Think of it as an alternative accounting system using social media and corporate governance to punish those citizens and businesses that don’t fit into the Left’s woke ideological vision for the future.

Sigh. Saw that Dilbert and it wasn’t even close to funny. Used to roll on the floor when he hit so close to home on the workplace. Saw this one and yup nodded. “Yeah, that sounds about right.”
I dunno if I’m just becoming more cynical or if this strip is way to close to the truth to be funny.

https://townhall.com/tipsheet/...investments-n2614736

Led by Missouri Attorney General Eric Schmitt, 19 state attorneys general announced an investigation of six major banks on Wednesday, probing their involvement with a U.N. alliance dedicated to advancing the ESG (environmental, social, and governance) agenda.

The investigative demands were served to Citigroup, Bank of America, JP Morgan Chase, Goldman Sachs, Morgan Stanley, and Wells Fargo by the attorneys general of Missouri, Arizona, Arkansas, Indiana, Kansas, Kentucky, Louisiana, Mississippi, Montana, Nebraska, Oklahoma, Tennessee, Texas, and Virginia.

The AGs look to learn more about the banks' involvement with the U.N.'s "Net-Zero Banking Alliance" which has adopted ESG's radical climate agenda with the stated goal of "aligning their lending and investment portfolios with net-zero emissions" by the year 2050. At present, the UN's ESG bank alliance represents some 40 percent of the world's banking assets. The alliance claims it "reinforces, accelerates and supports the implementation of decarbonisation strategies" — i.e., the eradication of fossil fuels — and notes the "vital role of banks in supporting the global transition of the real economy to net-zero emissions."

" The Net-Zero Banking Alliance is a massive worldwide agreement by major banking institutions, overseen by the U.N., to starve companies engaged in fossil fuel-related activities of credit on national and international markets," Missouri Attorney General Eric Schmitt explained. "Missouri farmers, oil leasing companies, and other businesses that are vital to Missouri’s and America’s economy will be unable to get a loan because of this alliance," he added of the nefarious impact of ESG adoption and implementation.

"We are leading a coalition investigating banks for ceding authority to the U.N., which will only result in the killing of American companies that don’t subscribe to the woke, climate agenda," General Schmitt declared. "These banks are accountable to American laws - we don’t let international bodies set the standards for our businesses."

I’m going to miss Eric Schmitt when he gets to Congress, but I hope he’ll have more influence in Washington to keep fighting against this trash.

If we had a decent Federal government, they would be using anti-trust law against these dirtbags (i.e. the ESG advocates).