The Heartland Institute has published a study of ESG—the environmental, social, and governance movement increasingly adopted by companies and investors. Jack McPherrin calls it “one of the gravest threats facing the free societies of the world today.”
- “At its core, ESG is a social credit scoring system that ideologically aligned elites and subservient bureaucratic authorities have been developing to ‘reset’ the global financial system to their advantage, fundamentally transforming society in the process.
- “This is accomplished by altering traditional frameworks of evaluating businesses and assessing investment risk.
- “Rather than determining the creditworthiness and value of a business or industry based upon objective measures such as profit, return on investment, consumer demand, and other material performance measures, ESG’s architects seek to judge entities based upon subjective and difficult to quantify social and environmental goals.
- “These objectives typically have little or nothing to do with business success in the marketplace based on consumer demand expressed through their purchases.”
Image above by Aditya Vyas for Unsplash.com.