A wise man once said: “You can fool all of the people some of the time, and some of the people all of the time, but you can’t fool all of the people all of the time.”
Environmental, social, and governance scoring (ESG) represents one of the greatest scams ever perpetrated upon the American people.
Aside from using a highly arbitrary scoring methodology that is seldom understood by investors or the broader public, ESG is simply a way to force the will of the political and corporate elite on the people.
‘Green energy’ simply amounts to mineral fuels—the mining of rare and precious minerals in order to expend such minerals in the generation and storage of energy.
Mining for minerals is not a green activity, nor is the usage of those minerals (that have a shelf life) for energy production.
Social policies are highly contested and represent mere opinions at best—virtually no one agrees on what ‘good’ social policy entails or looks like.
Finally, governance is an incredibly charged word, and virtually everyone, except for the people perpetrating the ESG scam, understands that this is simply a word used as a euphemism for control.
ESG ‘investing’ isn’t really investing at all, it is merely a mechanism to achieve near-total social control at the behest of firms like BlackRock, and for the longest time now such firms have wielded this scoring system as a weapon. …
Many thought that full-scale adoption of ESG was inevitable and irreversible—that we were on a one-way trip to a socialist hellscape. …
Today we are happy to report that one of the largest debt-rating agencies in the world has taken the unprecedented step of dropping ESG scoring altogether from its ratings.
According to sources, financial rating giant Standard & Poor’s has officially dropped the ESG scoring system from its ratings criteria.
Will Hild states, “S&P Global, one of the largest independent credit rating firms in the world, has dropped ESG scores from its debt ratings, after we exposed ESG for what it truly is: a scam used to force a political ideology onto the people.”
BREAKING: S&P Global, one of the largest independent credit rating firms in the world, has dropped ESG scores from its debt ratings, after we exposed ESG for what it truly is: a scam used to force a political ideology onto the people.https://t.co/QNlUXDwklu
— Will Hild (@WillHild) August 8, 2023
Jimmy Patronis echoed Hild: “There was a real risk that these debt ratings agencies were going to shove ESG down states’ throats. The threat was real: adapt ESG criteria in your investment decisions or we’re downgrading you. The S&P abandoning this woke-virus helps removes that threat. Huge victory.”
There was a real risk that these debt ratings agencies were going to shove ESG down states’ throats. The threat was real: adapt ESG criteria in your investment decisions or we’re downgrading you. The S&P abandoning this woke-virus helps removes that threat. Huge victory. https://t.co/8VNYtlo2YL
— Jimmy Patronis (@JimmyPatronis) August 8, 2023
Washington Examiner reports:
The credit ratings agency has been monitoring and rating companies’ efforts regarding ESG on a scale of 1-5 since 2021 but decided late last week to ditch the analysis.
The S&P adds that “some empirical data” suggest strong ties between ESG maintenance and successful investment returns.
However, it concedes that the findings “are largely mixed” and mostly focus on the equity field.
Bitcoin News offered this quote from Stanford professor David F. Larcker, who believes that this move signifies that “the ratings really are not that useful.”
JUST IN: S&P will no longer give ESG scores on debt ratings 👀
By dropping the ESG ratings now, maybe S&P is saying “the ratings really are not that useful,” said David F. Larcker, a professor at Stanford’s graduate school of business. pic.twitter.com/2er0to3i4T
— Bitcoin News (@BitcoinNewsCom) August 9, 2023
Joseph Carlson provided his perspective on the recent move:
“Interesting news to see S&P step away from ESG scores. I’m not sure the reasons right now, but if I had to guess I would assume they’re very focused on protecting their brand and trust. They don’t want to be the target of politics. I’ll be reading more about how this impacts their business.”
Interesting news to see S&P step away from ESG scores. I'm not sure the reasons right now, but if I had to guess I would assume they're very focused on protecting their brand and trust. They don't want to be the target of politics.
I'll be reading more about how this impacts… pic.twitter.com/SYuF2Kuye6
— Joseph Carlson (@joecarlsonshow) August 9, 2023
Reuters provided this statement from S&P:
“We have determined that the dedicated analytical narrative paragraphs in our credit rating reports are most effective at providing detail and transparency on ESG credit factors material to our rating analysis, and these will remain integral to our reports.”
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