ESG seems like an optimistic option to protect the base level, but a closer look reveals a more sinister path to totalitarianism.
This is an opinion piece. Macro Jack is a Bitcoiner with a background in conventional money providers that spans funding analysis, investor relations, and business growth.
The environment, social and governance (ESG) is a strategy for evaluating companies or countries based mainly on their compliance with these three elements. ESG, which has gained recognition in recent times, has become a globally adopted capital allocation framework and objective. The idea sounds innocent on paper, because most people are good and want to advance environmental or social issues. If we do it with investments, even more. Nonetheless, offering a financial reward to ESG followers also brings a whole new set of incentives that probably haven’t been fully explored by the funder community.
There is more than meets the attention. The ESG analysis process is bigoted, opaque and centralized, leaving vital room for corruption. It’s also doubtful that one of the main advocates of ESG is BlackRock CEO Larry Fink. BlackRock is the world’s largest asset supervisor, managing more than $10 trillion, and Mr. Fink’s lifestyle reflects that. He likes to fly privately to Davos, stress-free at his Aspen mansion, and tell you to reduce your carbon footprint.
Digging deeper into the ESG reveals a more sinister plan. While we wish to be good stewards of the planet, we briefly learn that the globalists’ proposal to act is somehow disturbing and also illegitimate. ESG is an important part of the agenda to consolidate capital and centrally plan source allocation, destroying remnants of the free market as part of. Let’s dig a little deeper.
ESG is more than an investment evaluation strategy; It is a social credit system like the one that existed under the Chinese communist administration. Much like a credit score, which determines whether or not a person is eligible for a credit score based on their means of paying old debt, a social credit score system is a more invasive assessment and not only determines the access to monetary services, but in addition, public providers are reminiscent of public transport or grocery stores. . For example, China’s social credit score system attempts to compile numerical information about residents’ social and monetary behavior to calculate a private ranking that determines which providers they qualify for. According to the Wall Avenue Journal, the official social credit score system in Chinese includes mortgage compensation, bank card payments, meeting visitor guidelines, meeting household planning limits, and “credibility” of information. published or republished online, among others. different elements. In addition to official entries, the Social Credit Score contains political opposition, private values, and online dialogue in each person’s rating. Beliefs, political opinions and conduct online determine their means of accessing access providers such as insurance and banking, college admissions, web services, social services and eligibility for employment.