The Clinton Foundation (yes, those Clintons) held a Clinton Global Initiative conference this week in New York City, along with other high-profile meetings such as the United Nations General Assembly and the World Economic Forum’s Climate Crisis Summit.
Former President Bill Clinton was joined by BlackRock CEO Larry Fink on day two of his foundation’s conference, where the two discussed Environmental Social Governance (ESG).
“I want to thank you for urging people to consider the social impact of their investments and trying not to go for a quick rate of return if it’s damaging to society but instead to try to build a future we can all share,” Clinton told Fink on stage, adding that his usage of ESG will “bring back balance” to society.
ESG, according to takes the Corporate Finance Institute, is a set of criteria that takes a “holistic view that sustainability extends beyond just environmental issues…[It’s] how an organization is managing risks and opportunities related to environmental, social, and governance criteria.”
A further look into the criteria takes things into account, such as a company’s greenhouse gas emissions, efforts to “fight climate change,” its relationship with its employees (fair wages and work conditions) and its community (giving back), and “what types of internal controls exist to promote transparency and accountability by leadership.”
In essence, ESG is to business what DEI (Diversity, Equity, and Inclusion) is to schools: dangerous, pointless, and a manipulative set of guidelines meant to confuse people and make them feel like they’re bad people if they don’t follow them.
Which makes sense as to why the World Economic Forum, who openly advocates for a “Great Reset,” also pushes for companies to engage in setting criteria for ESG as a tool to help accomplish said reset.
In a September 2022 issue of Science Direct, a study was published via the Scandinavian Journal of Management. In the study, the highlights found were as follows:
- The Great Reset thesis lacks appreciation of how markets bring about desirable social outcomes.
- It is overly sanguine about what governments can do to alleviate alleged market failures.
- Great Reset policies will lead to more cronyism and dilute effective ownership.
- Existing management theory does not need a reset.
“To be sure,” the study concluded, “our current, mostly market-based economy (call it ‘neoliberalism’ or ‘the Washington Consensus’ or ‘democratic capitalism’) is hardly perfect…But it is far better than the economic system Great Reset proponents appear to have in mind, one in which the state plays a greater role in the economy; firms are evaluated by vague, complex, and politically defined performance criteria; and competitive forces that tend to direct resources toward more competent owners are replaced with socialized, politicized decision-making. Comparative institutional analysis suggests that these moves will exacerbate, not alleviate, concerns about the environment, inequality, stagnation, and so on.”
During the conference, Fink advocated for assuring “all governments” set a worldwide ESG criteria, effectively “reorienting” the global financial system using the International Monetary Fund and the World Bank. This was, of course, praised by Clinton.
Aside from Fink, Unilever’s CEO Alan Pope said that implementing ESG worldwide would be well worth the effort despite “costs in the short-term.” Unilever is the parent of several companies, including the incredibly woke and anti-American Ben & Jerry’s.
Infowars pointed out, “The ESG model is one of the main causes of the Sri Lankan government’s recent dramatic collapse as fuel and food prices skyrocketed to unaffordable levels following the country’s adherence to the World Economic Forum’s nitrogen reduction initiative. It’s also the mechanism that sparked the farmer’s rebellion in the Netherlands as the Dutch government proclaimed the country will bend the knee to ESG protocols.”
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