Bloomberg and NewsBusters Show ESG Is Neither Virtuous Nor Profitable

[rangerrebew]

Bloomberg and NewsBusters Show ESG Is Neither Virtuous Nor Profitable
By Linnea Lueken -September 30, 20220
 

A recent Bloomberg article, covered by NewsBusters, shows the Environmental, Social, and Governance (ESG) investment trend that has gained popularity in the business world in the last few years is not a profitable bet for investors, nor will it guarantee any of the environmental promises made. The Bloomberg analysis shows that the “woke” ESG movement is a scam.

The NewsBusters article, “Bloomberg Columnist Smacks ‘Apostles’ of Woke ESG Movement,” describes the paywalled Bloomberg piece, agreeing with the position of writer Adrian Wooldridge. NewsBusters says that Wooldridge “blasted the ESG movement and its super-woke cousin, the diversity, equity, and inclusion movement (DEI).”

The two movements “powered leftist investment giants like BlackRock Inc., State Street Corp., and Vanguard Group Inc. “

https://climaterealism.com/2022/09/bloomberg-and-newsbusters-show-esg-is-neither-virtuous-nor-profitable/

[The_Reader_David]

The point of ESG, DEI, carbon neutrality targets and the like is to free professional managers from the need to actually deliver shareholder value and let them pay each other fat salaries and bonuses for meeting easier to meet targets unrelated to profitability.  They are plainly not virtuous as they are cover for the theft of assets that properly belong to the shareholders.