Russian invasion sheds light on hypocrisy of Gary Gensler, woke investment
https://nypost.com/2022/03/05/russian-invasion-sheds-light-on-hypocrisy-of-gary-gensler-corporate-wokesters/Vladimir Putin’s invasion of Ukraine has further exposed the hypocrisy of the woke investment fad known as ESG.
ESG is the acronym for environmental social governance. It’s an amorphous group of edicts that have been adopted by big Wall Street firms, investment managers and many corporations to allegedly make the world a better place.
Follow ESG edicts and you will help protect the environment by investing in windmills instead of oil companies. Board diversity is big under ESG rules. So is supporting social justice, which is why you see so much corporate money flowing to groups like Black Lives Matter.
Do all of that and you can virtue signal ‘til the cows come home despite obvious drawbacks. Reducing your carbon footprint might be a good thing but do it as the ESG zealots want and you get what we have now: Higher energy prices because of the inefficiencies of windmills.
Interesting read.
