Environmental, Social, and Governance (ESG) criteria have descended upon the investment landscape, masquerading as the paragons of ethical investment and corporate responsibility.
However, beneath the surface, ESG standards undermine free market principles, stunt economic growth, and distort the objective nature of investing. As conservatives, we have no other choice than to oppose the encroachment of ESG at all costs.
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ESG’s Unholy Trinity of Consequences
ESG may sound benign, even beneficial, to the uninitiated. After all, who wouldn’t want companies to be environmentally friendly, socially responsible, and well-governed? However, the devil is in the details—or, in this case, the consequences.
For one, ESG is little more than moral posturing by corporations, effectively suppressing the plurality of ideas and strategies that make the marketplace vibrant and innovative. It’s a direct affront to free-market principles that empower businesses to pursue their interests within the confines of the law.
Besides, ESG standards serve as a chokehold on economic vitality. Companies, forced to allocate resources for ESG compliance rather than investing in growth and productivity, would invariably contribute to a sluggish economy, job losses, and a slowdown in wealth creation.
Let’s not pretend there isn’t an obvious political bias in scoring, either. ESG criteria are not objective measures of ethical practice but are molded by the prevailing political winds. This bias skews market dynamics, favoring certain sectors over others based on ideological trends rather than business viability, and discourages investment in less ESG-friendly, yet crucial industries.
If nothing else, ESG completely disregards shareholder interests. ESG initiatives flip the script on corporate governance principles, prioritizing politically-motivated stakeholder interests over shareholder returns. This upends the primary duty of corporations—to generate returns for the shareholders who’ve entrusted them with their capital.
BlackRock’s Larry Fink, purveyor of ESG and WEF elite member (the same “You’ll own nothing and you’ ll be happy” WEF) now has a change of heart on Bitcoin. Some see that as bullish; I see that as frightening. https://t.co/8F3CmTQpyH
— Carol Roth (@caroljsroth) July 5, 2023
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The Conservative Counterstrike
ESG may have gained traction, but it’s not too late to counter its harmful effects. As conservatives, we must promote an alternative approach that preserves free market principles.
Four potential avenues of approach could stop this globalist agenda in its tracks:
Champion Market-based Environmental Solutions: Rather than succumbing to ESG’s environmental virtue signaling, conservatives should advocate for market-based solutions. Property rights and market pricing for resources have consistently achieved environmental goals without the shackles of overregulation.
Push for Voluntary Corporate Responsibility: Let’s replace forced compliance with a culture of voluntary corporate responsibility. Companies should align their practices with customer expectations and shareholder interests, not politically-motivated ESG mandates.
Demand Transparent Reporting: Rather than mandating ESG reporting, we must champion voluntary, standardized reporting, preserving the freedom for investors to make decisions based on their values and risk appetite.
Foster Innovation: Technological progress is the panacea for many environmental and social challenges. By supporting innovation-friendly policies, conservatives can contribute to sustainable solutions without compromising economic vitality.
STAKEHOLDER CAPITALISM- looks like this. Corporations shaping society according to ESG ideology with no mandate
The Group says a manager stated it couldn’t open a business account because “the content of your website conflicts with the culture and ideas we are pushing”.’
Oh.. pic.twitter.com/yQp3Sl63y4
— Bernie’s Tweets (@BernieSpofforth) July 5, 2023
RELATED: ESG Is Digging a Deeper and Deeper Hole for Itself
Don’t Be Fooled
ESG, despite its shiny veneer, presents a significant threat to our economic freedom and conservative values. It is not the answer to responsible investment or corporate ethics, and we, as conservatives, must resist its intrusion into the marketplace. The time for action is now.
What are your thoughts? Let us know in the comments below and across social media.
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