Fighting back against the thuggish ‘ESG’ woke agenda

There s no such thing as blue money or red money. Only the green stuff will pay bills.

On Friday, North Carolina Treasurer Dale Folwell became the latest of officials from nearly half the states across the country including Florida, Texas, Kentucky, Missouri, Arizona and West Virginia to protest Wall Street s blue investment strategy, called ESG.

What is ESG? E stands for environment, S for social justice and G for corporate governance. ESG funds invest in companies that oppose fossil fuels, push for unionization and stress racial and gender equity over merit in hiring and board selection.

That s a partial definition because at least a dozen rating firms tag companies with an ESG score, often based on subjective and somewhat secret criteria, even including a company s stance on abortion rights.

State officials are pulling billions of dollars out of Wall Street asset managers like BlackRock, State Street and Vanguard, citing ESG s lousy returns and strong-arming of corporations that don t bow to the left-wing agenda.

Pay attention to these officials warnings, because ESG is also hurting small investors. In fact, even if you don t invest at all but you pay taxes, ESG puts you at risk. You ll be on the hook when states invested in ESG funds incur losses and have to come to taxpayers for more money. New York City taxpayers, beware. 

Folwell calls ESG wacktivism,  warning that a focus on ESG is not a focus on returns.

via nypost.com