ESG is one of the causes of inflation and it is dangerous.
Marlo Oaks, the Utah State Treasurer, explains that ESG is an outgrowth of socially responsible investing, but instead of just avoiding companies, ESG engages with companies and investors to drive a political outcome. That’s why it is so problematic.
Today’s inflation starts with ESG. It starts with supply. We don’t have enough oil and gas and it’s due to the fact that there is not enough money going into oil and gas projects. In 2015, there were 59 global funds, and 46.6 billion dollars were raised. In 2021, six years later, 11 funds were raised, $4.6 billion dollars, a drop of 90% under the guise of improving economics in oil and gas, Mr. Oaks explained.
The only explanation that makes sense is ESG. People – investors – have decided they don’t want to participate in the fossil fuel industry. So, they are cutting off capital. The administration has said it.
In an article titled “Young Global Leaders–Anderson Cooper and Leonardo DiCaprio Are In The Most Exclusive Private Social Network In The World” by Bruce Nussbaum published March 17, 2008, it’s revealed that, “Elon Musk, the chairman of Tesla Motors, the much-publicized electric sports-car company, is a new YGL.” He was a YGL but now he is taking a second look and wants ESG investigated.
His ESG was downgraded because the system is subjective and politicized. It began under the premise that it would make capitalism more moral. It’s doing the opposite and has become a weapon in the hands of people who want power – all of it.
Corporations by and large are not turning away from ESG and it spells our doom. We need more Marlo Oaks but have too many Bidens.