Burger King doesn’t know anything more about climate change than your local mechanic, but there is immense pressure on corporate executives to dance to the tune of ESG piper. Executives with bad ESG scores are seen as ”troglodytes” , and companies with poor scores risk getting delisted from ESG indexes.
Though ESG is seen as “stakeholder capitalism,” it’s the opposite of capitalism. It doesn’t empower consumers, as capitalism does, or even stakeholders; it empowers those who get to determine what behavior and values are right and wrong.CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER It should go without saying that no single group of people should get to decide what is ethical or just for a society — let alone a tiny cabal of people who believe that Philip Morris, which produces a product that kills millions, is socially superior to Tesla because it hit the Goldilocks spot on diversity and inclusion metrics.
Tesla’s reinstatement to the S&P 500 ESG index should not overshadow the truth about ESG: It is indeed a “scam,” as Musk stated. One that is not just absurd,
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