Is The ESG Colossus Stumbling?

[rangerrebew]

Is The ESG Colossus Stumbling?
Tilak Doshi
 
Feb 21, 2023,08:06pm EST
 
Yesterday, leaders of the Florida’s House and Senate hailed legislation that would “protect Florida retirement accounts and state investments from financial discrimination by eliminating the consideration of environmental, social, and governance (ESG) investment strategies” and “protect Floridians from being denied loans based on their political or social beliefs.” It is perhaps with a special irony that Florida Governor Ron DeSantis announced, on the day before Valentine, his latest legislative proposals against the ESG movement that has ruled investment strategies of the largest corporations in the West for the past several years.

The proposals will prohibit fund managers for state and local government in the state from considering ESG factors in any investment decisions. State government entities will not be allowed to request ESG information from suppliers in the procurement process. The governor has been among the leading anti-ESG advocates, barring fund managers for state pension funds last year from incorporating ESG factors in the investment process. The state recently pulling $2 billion from BlackRockBLK -1.2% , the world’s largest asset manager with over $8.5 trillion under management, over its use of ESG factors. A pittance for BlackRock, but it is the demonstration effect that often matters in the scheme of things.

Is the ESG colossus – standing astride the worlds of business and political mandates over the past two decades in the Western world — stumbling?

Origins of ESG

https://www.forbes.com/sites/tilakdoshi/2023/02/21/is-the-esg-colossus-stumbling/?sh=4b0676402f6b

[catfish1957]

And sadly the fact is that some even here at TBR find apparently no problem with Black Rock's potential association with Zellinskyyyyyyyy/Ukraine corruption machine, , and their offering of "re-constuction".  One side we have DeSantis heroically fighting this abomination, and OTOH,  we have so called Conservatives (even here) , trying to kill that effort.  IMO they are as complict in perpetualtion and advancement of the ESG  agenda, as Biden, Bernie, and AOC.

You know who you are......

[catfish1957]

Outside the Hedgers,

Here is a nice tidy list of companies to boycott / avoid for ESG adherence. 

 https://www.investors.com/news/esg-companies-list-2021-best-esg-stocks-environmental-social-governance-values-2/

[roamer_1]

DESANTIS.

[catfish1957]

DESANTIS.

And it almost feels like that on the leadership front, he is fighting this battle alone. 

Too many cowardly pols afraid to upset the Enviro-whacko cabal.

[roamer_1]

And it almost feels like that on the leadership front, he is fighting this battle alone. 

Too many cowardly pols afraid to upset the Enviro-whacko cabal.

Courage is contagious. 

[Smokin Joe]

IIRC, we have something similar working its way through our legislature now.

Considering the economic pillars of this state's surplus revenues are Oil, coal, Natural Gas, ranching and agriculture--all of which require reliable transportation (not the current crop of EVs), for any State funds to be invested in an ESG program would be like shooting our economy in both feet.