{"id":1767690,"date":"2022-12-08T07:41:12","date_gmt":"2022-12-08T12:41:12","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1767690"},"modified":"2022-12-08T11:48:20","modified_gmt":"2022-12-08T16:48:20","slug":"h-sterling-burnett-esg-advocates-have-unhinged-priorities","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/h-sterling-burnett-esg-advocates-have-unhinged-priorities\/","title":{"rendered":"H. Sterling Burnett: ESG Advocates Have Unhinged Priorities"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fh-sterling-burnett-esg-advocates-have-unhinged-priorities%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1767690&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/12\/ea1f4d7f-d82a-4dfc-bbb7-dc162bbfe357@news.ap_.org_.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p><em>Editor&#8217;s note: This piece was co-authored by\u00a0<\/em><em>Linnea<\/em> <em>Lueken<\/em>.<\/p>\n<p id=\"isPasted\">Without quick action, environmental, social, and governance (ESG) scoring frameworks will become hopelessly embedded in our daily lives, and the people who push ESG don\u2019t give a hoot about our well-being.<\/p>\n<p>To those still unfamiliar with the ESG movement, it is, at its core, a mechanism by \u201c<a data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/stoppingsocialism.com\/2022\/11\/esg-financial-discrimination\/&#038;source=gmail&#038;ust=1670434121612000&#038;usg=AOvVaw1na-xg63VAnP1vP3JbhkhT\" href=\"https:\/\/stoppingsocialism.com\/2022\/11\/esg-financial-discrimination\/\" target=\"_blank\" rel=\"noopener\">which a cabal of ideologically aligned influential interests<\/a> working through unelected supranational organizations are attempting to \u2018reset\u2019 the global financial system to their advantage.\u201d Circumventing national sovereignty, free markets, and individual rights, global government organizations, the embedded bureaucrats staffing them, and the governments that fund and compose their membership are working with international corporations and financial elites to alter traditional financial methods of assessing risk and allocating capital and credit. Under an ESG system, companies, and likely soon individuals, will be assigned arbitrarily determined ESG social credit scores, which financial institutions, investment portfolio managers, and Big Tech could use to guide investment choices, decisions about who can participate in banking or get business licenses, and who can engage on social media platforms. Basically, ESG is\u00a0<a data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.heartland.org\/publications-resources\/publications\/understanding-environmental-social-and-governance-esg-scores-and-why-lawmakers-should-oppose-them&#038;source=gmail&#038;ust=1670434121612000&#038;usg=AOvVaw2DUfzQe-0OUM-6ESoQBvsN\" href=\"https:\/\/www.heartland.org\/publications-resources\/publications\/understanding-environmental-social-and-governance-esg-scores-and-why-lawmakers-should-oppose-them\" target=\"_blank\" rel=\"noopener\">a backdoor to a social credit score<\/a>, encouraged by government, and typically imposed through regulations.<\/p>\n<p>ESG is particularly interested in social justice and fossil fuel divestment, and a score can be given to your business whether you want one or not.<\/p>\n<p>Companies (and eventually\u00a0<a data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.fico.com\/blogs\/lending-predictions-2022-bnpl-esg-and-more&#038;source=gmail&#038;ust=1670434121612000&#038;usg=AOvVaw1KLeqOPh9qv-5r3hnBnbkH\" href=\"https:\/\/www.fico.com\/blogs\/lending-predictions-2022-bnpl-esg-and-more\" target=\"_blank\" rel=\"noopener\">individuals<\/a>) that do not achieve a high ESG score can be\u00a0<a data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.heartland.org\/publications-resources\/publications\/esg-financial-discrimination&#038;source=gmail&#038;ust=1670434121612000&#038;usg=AOvVaw25fVG2dbvQle_rR_BZ5p9B\" href=\"https:\/\/www.heartland.org\/publications-resources\/publications\/esg-financial-discrimination\" target=\"_blank\" rel=\"noopener\">punished<\/a>; banks may refuse to provide loans to, or limit capital investments available to the company. There may also be limited access to tax credits,\u00a0<a data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.americanthinker.com\/blog\/2022\/02\/why_banks_are_fighting_esg_legislation.html&#038;source=gmail&#038;ust=1670434121612000&#038;usg=AOvVaw22aqojEARfyBM2MT5Oawcc\" href=\"https:\/\/www.americanthinker.com\/blog\/2022\/02\/why_banks_are_fighting_esg_legislation.html\" target=\"_blank\" rel=\"noopener\">insurance<\/a>, grants, and other kinds of contracts. People with low ESG scores could also be banned from social media outlets.<\/p>\n<p>Although the ESG investment framework is pitched as a caring, environmentally conscious alternative to traditional revenue-focused investment, it is actually a weapon of the deranged, prioritizing the pursuit of \u201cwoke\u201d political ends over advancing human welfare.<\/p>\n<p>Take, for example, the reaction of one analyst of a \u201crisk intelligence\u201d company called Maplecroft, to a recent violent coup attempt in the small island nation of S\u00e3o Tom\u00e9 and Pr\u00edncipe. In an\u00a0<a data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.rigzone.com\/news\/timing_of_sao_tome_coup_attempt_bad_for_hydrocarbon_sector-29-nov-2022-171203-article\/&#038;source=gmail&#038;ust=1670434121612000&#038;usg=AOvVaw0LE_SvSF785bRQ6AABqn-u\" href=\"https:\/\/www.rigzone.com\/news\/timing_of_sao_tome_coup_attempt_bad_for_hydrocarbon_sector-29-nov-2022-171203-article\/\" target=\"_blank\" rel=\"noopener\">interview with Rigzone<\/a>, the analyst said \u201c[t]he coup attempt is incredibly damaging for the country\u2019s political and ESG credentials, and will likely deter investors in the nascent oil and gas industry[.]\u201d<\/p>\n<p>Four people are\u00a0<a data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.voanews.com\/a\/sao-tome-failed-coup\/6852268.html&#038;source=gmail&#038;ust=1670434121612000&#038;usg=AOvVaw06Ol_sRgCdxYBR7_sxuJPA\" href=\"https:\/\/www.voanews.com\/a\/sao-tome-failed-coup\/6852268.html\" target=\"_blank\" rel=\"noopener\">reported dead<\/a>, the coup was thwarted, but an investment fad is at the top of some experts\u2019 minds.<\/p>\n<p>To regular people, this is insane\u2014but to world leaders in government and CEOs of multinational corporations, ESG is the future. At the recent United Nations Climate Change Conference (COP27), the message was\u00a0<a data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/dailynewsegypt.com\/2022\/11\/08\/cib-to-host-five-panel-discussions-at-cop27-in-sharm-el-sheikh\/&#038;source=gmail&#038;ust=1670434121612000&#038;usg=AOvVaw3HxOX4VG6dgVVBAEm3ovVj\" href=\"https:\/\/dailynewsegypt.com\/2022\/11\/08\/cib-to-host-five-panel-discussions-at-cop27-in-sharm-el-sheikh\/\" target=\"_blank\" rel=\"noopener\">clear<\/a>: fossil fuel use in particular has to go, and financial institutions should enforce it.<\/p>\n<p>Fossil fuels and their derivatives have lifted much of the world\u00a0<a data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.heartland.org\/news-opinion\/news\/cop-27-has-no-back-up-plan-to-replace-products-from-oil&#038;source=gmail&#038;ust=1670434121612000&#038;usg=AOvVaw0ZcovLrmj-3G2JHfDTmvIV\" href=\"https:\/\/www.heartland.org\/news-opinion\/news\/cop-27-has-no-back-up-plan-to-replace-products-from-oil\" target=\"_blank\" rel=\"noopener\">out of extreme poverty<\/a>, have vastly improved crop yields, help get clean water and transportation to the most remote regions, aid in developing medicines, provide inexpensive and clean heating, air conditioning, and thousands of other things that we take for granted. More than 4,000 items and products in everyday use in developed, and many developing countries alike, either contain fossil fuels as a necessary component, or are wholly derived from fossil fuels. Even for essential products not derived from fossil fuel, they are often developed, manufactured, and delivered through technologies that rely on fossil fuels. A strictly enforced ESG effort would\u00a0<a data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.msn.com\/en-us\/news\/world\/esg-in-africa-is-colonialism-20\/ar-AA14JGqy&#038;source=gmail&#038;ust=1670434121612000&#038;usg=AOvVaw1FbvLkPH19gyawpiT8KLwd\" href=\"https:\/\/www.msn.com\/en-us\/news\/world\/esg-in-africa-is-colonialism-20\/ar-AA14JGqy\" target=\"_blank\" rel=\"noopener\">halt this opportunity<\/a> and development for poor nations, regardless of their political stability.<\/p>\n<p>However, the damage borne by ESG won\u2019t stop in poor nations. By limiting investments for oil and gas operations domestically, it will also continue to keep energy prices high, undermine economic growth, and leave the United States dangerously dependent on foreign sources of energy and technology.<\/p>\n<p>And it\u2019s getting worse. New regulations from the Biden administration\u00a0<a data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.foxnews.com\/opinion\/biden-retirement-savings-woke-protect-yourself&#038;source=gmail&#038;ust=1670434121612000&#038;usg=AOvVaw25_tlrejYY3IoJ4dTejW6K\" href=\"https:\/\/www.foxnews.com\/opinion\/biden-retirement-savings-woke-protect-yourself\" target=\"_blank\" rel=\"noopener\">allow ESG considerations<\/a> to be a factor in your 401(k) management, and your employer can invest your money into an ESG fund as the default option.<\/p>\n<p>The vast majority of people who invest in the markets, whether as individuals or as part of a private or public pension, do so in the hopes of maximizing returns to provide for a secure retirement, one that provides them the ability to not simply survive but thrive and enjoy some modicum of freedom to pursue their post-retirement dreams. By allowing ESG to be a consideration in banks, investment managers, and stock portfolios goals, the government is sanctioning these financial elites to use other peoples\u2019 money to pursue their self-selected social and environmental goals. Under ESG, the government is undermining the fiduciary standard of using clients\u2019 money to pursue profit as the sole legal guideline in order to maximize return to their client investors; and replacing it with whatever social or environmental goals the banks and fund managers think people should be pursuing.<\/p>\n<p>BlackRock, the world\u2019s largest asset management company, with more than $10 trillion under its control, is just one of many companies pushing ESG. Some colleges are creating curriculum for aspiring sustainability busybodies. To give you an example of the kind of people these careers attract, one sustainability investment website put together a list of\u00a0<a data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/theimpactinvestor.com\/esg-jobs\/&#038;source=gmail&#038;ust=1670434121612000&#038;usg=AOvVaw0uU2Qjb0HHjGx9oHbXFOcH\" href=\"https:\/\/theimpactinvestor.com\/esg-jobs\/\" target=\"_blank\" rel=\"noopener\">ESG jobs<\/a>, including one that contains the telling opening line, \u201c[h]ave you ever wanted to be a bodyguard but lacked physical strength? If so, an ESG career path may be your second chance.\u201d<\/p>\n<p>Fortunately, it is not all doom and gloom.\u00a0<a data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.breitbart.com\/economy\/2022\/08\/24\/texas-bans-blackrock-and-other-financial-firms-over-esg-energy-crisis\/&#038;source=gmail&#038;ust=1670434121612000&#038;usg=AOvVaw3B3UJFuMIji8UdHdQiShus\" href=\"https:\/\/www.breitbart.com\/economy\/2022\/08\/24\/texas-bans-blackrock-and-other-financial-firms-over-esg-energy-crisis\/\" target=\"_blank\" rel=\"noopener\">Some states<\/a> have passed laws barring financial firms that have an ESG-focus from doing business with state and local contracts. Best of all, it seems to be working. After several states pulled money out of\u00a0<a data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.dailywire.com\/news\/get-woke-go-broke-blackrock-stock-downgraded-over-risk-from-esg-investing&#038;source=gmail&#038;ust=1670434121612000&#038;usg=AOvVaw3tjhfvwgDfYalfvtv55avm\" href=\"https:\/\/www.dailywire.com\/news\/get-woke-go-broke-blackrock-stock-downgraded-over-risk-from-esg-investing\" target=\"_blank\" rel=\"noopener\">BlackRock<\/a>, the company\u2019s stock price was downgraded, and it continues to face pressure from oil producing states that are not particularly thrilled by fossil fuel divestment schemes.<\/p>\n<p>ESG is the psychotic bully of the investment world, its advocates use emotional blackmail and fear about climate change to get away with becoming corporate kingmakers, while forcing companies that aren\u2019t in lockstep with a \u201c<a data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/heartlanddailynews.com\/2022\/03\/esg-is-not-part-of-a-free-market-economy-its-the-result-of-corruption-cronyism-and-big-government-2\/&#038;source=gmail&#038;ust=1670434121612000&#038;usg=AOvVaw2S4ohTjosJQBss0Yf0Qv-M\" href=\"https:\/\/heartlanddailynews.com\/2022\/03\/esg-is-not-part-of-a-free-market-economy-its-the-result-of-corruption-cronyism-and-big-government-2\/\" target=\"_blank\" rel=\"noopener\">stakeholder capitalism<\/a>\u201d agenda out of business. They do not care that it hurts families and the world\u2019s poor. As such, we must not let them win.<\/p>\n<p><em>Linnea Lueken<\/em> (<a href=\"mailto:llueken@heartland.org\" target=\"_blank\" rel=\"noopener\"><strong>llueken@heartland.org<\/strong><\/a>) <em>is a research fellow with the Arthur B. Robinson Center on Climate and Environmental Policy at The Heartland Institute. H. Sterling Burnett, Ph.D.,\u00a0<\/em>(<a href=\"mailto:hsburnett@heartland.org\" target=\"_blank\" rel=\"noopener\"><strong>hsburnett@heartland.org<\/strong><\/a>)<em>\u00a0is the director of the Arthur B. Robinson Center.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Editor&#8217;s note: This piece was co-authored by\u00a0Linnea Lueken.Without quick action, environmental, social, and governance (ESG) scoring frameworks will become hopelessly embedded in our daily lives, and the people who push<\/p>\n","protected":false},"author":1,"featured_media":1767693,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[],"class_list":["post-1767690","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1767690","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1767690"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1767690\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1767693"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1767690"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1767690"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1767690"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}