{"id":1810314,"date":"2023-01-19T07:05:52","date_gmt":"2023-01-19T12:05:52","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1810314"},"modified":"2023-01-19T07:07:19","modified_gmt":"2023-01-19T12:07:19","slug":"esgs-investing-is-a-key-factor-in-greenflation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/esgs-investing-is-a-key-factor-in-greenflation\/","title":{"rendered":"ESG\u2019s Investing Is a Key Factor in \u201cGreenflation\u201d"},"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%2Fesgs-investing-is-a-key-factor-in-greenflation%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=1810314&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-->\n<p>\u201cESG-driven inflation is pushing higher prices on hardworking American consumers and forcing taxpayers to pay the bill for the progressive agenda of megalomaniacs like BlackRock CEO Larry Fink,\u201d Will Hild, the executive director of Consumers\u2019 Research, told Breitbart News in a statement. \u201cWith supply chains still being disrupted and prioritization of liberal political goals forcing higher prices at the grocery store and the gas pump, it\u2019s clear ESG is a major factor.\u201d<\/p>\n<div id=\"attachment_23060228\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/media.breitbart.com\/media\/2023\/01\/GettyImages-1246298182-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-23060228 size-large\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/GettyImages-1246298182-1-1024x683-1.jpg\" alt=\"\" width=\"1024\" height=\"683\"   style=\"display:none\"><\/a><\/p>\n<p class=\"wp-caption-text\"><em>Larry Fink, Chairman and Chief Executive Officer of BlackRock, spoke at an event that took place on the sidelines to the opening day for the World Economic Forum (WEF), in Davos, Switzerland on Tuesday, January 17, 2023. (Hollie Adams\/Bloomberg via Getty Images)<\/em><\/p>\n<\/div>\n<p>ESG investing, the latest tool used by leftist Wall Street companies to pressure corporations into taking social and politically oriented positions. This includes divesting from oil and natural resources, increasing diversity requirements, and other leftist goals.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>Now that the economy is thriving, <a href=\"https:\/\/www.breitbart.com\/economy\/2022\/10\/15\/economists-probability-recession-2023-reaches-60-up-10-points-since-september\/\">trend<\/a> In the face of recession, executives in business have stated that they will abandon ESG practices. KPMG surveys found that 59% of CEOs have abandoned ESG practices. <a href=\"https:\/\/fortune.com\/2022\/10\/17\/ceos-recession-preparing\/\">said<\/a> In October, they will either \u201cpause\u201d Oder \u201creconsider\u201d Their ESG plans for the next six-months<\/p>\n<p class=\"a8d-pre\">David Henderson, a research fellow with the Hoover Institution and Marc Joffe (a senior policy analyst at the Reason Foundation), are among the guests. <a href=\"https:\/\/archive.is\/2LjJR#selection-4437.0-4437.291\">explained<\/a> The\u00a0<em>Wall Street Journal<\/em> How ESG priorities could lead to inflation<\/p>\n<figure id=\"D-ROS-B2\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<blockquote>\n<p>ESG investing and the management methods it encourages can increase production costs and limit capacity. A company that diverts resources to a formal diversity equity and inclusion program with all its attendant human-resources hires and bureaucracy will have fewer resources available for product research and development. If a company with a core competency in oil and gas production decides to shift into wind and solar, even though it has limited expertise, its output will suffer. In general, an investment framework that de-emphasizes production in favor of social objectives will divert money away from efficient producers\u2014in the same way taxes will.<\/p>\n<p>\u2026<\/p>\n<p>Companies that focus too much on ESG priorities run the risk of higher inflation, slower growth, or stagflation.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">&#8220;As more financial leaders scrutinize so-called sustainable investing, there\u2019s ample evidence suggesting ESG exacerbated the 9.1% increase in the consumer price index.&#8221; via <a href=\"https:\/\/twitter.com\/RealClearEnergy?ref_src=twsrc%5Etfw\">@RealClearEnergy<\/a> <a href=\"https:\/\/t.co\/DfsiwB1k0n\">https:\/\/t.co\/DfsiwB1k0n<\/a><\/p>\n<p>\u2014 RealClearPolitics (@RealClearNews) <a href=\"https:\/\/twitter.com\/RealClearNews\/status\/1554112125097971714?ref_src=twsrc%5Etfw\">August 1, 2022<\/a><\/p>\n<\/blockquote>\n<p>Joffe and Henderson continued. \u201cTo get the U.S. economy back on a path to sustainable growth and low inflation, the Fed must rein in excess liquidity, as it is now doing. But that alone won\u2019t be enough. Businesses, investors and those advising them must push back on ideas such as ESG that undermine corporate productivity.\u201d<\/p>\n<p>Principal Global&#8217;s chief global strategist, Seema Shah <a href=\"https:\/\/www.realclearenergy.org\/articles\/2022\/07\/29\/an_inconvenient_truth_esg_is_fueling_inflation_woes_845052.html\">labeled<\/a> ESG\u2019s push away from fossil fuels \u201cgreenflation.\u201d Shah stated that the push for net-zero climate changes policies is a must.\u00a0\u201ccreated a chain reaction resulting in higher energy prices and, ultimately, higher consumer costs.\u201d<\/p>\n<p>Gabriella Hoffman, a senior fellow at the Independent Women\u2019s Forum, wrote, \u201cInstead of playing politics, corporations should revert back to their\u00a0<a href=\"https:\/\/www.businessroundtable.org\/business-roundtable-redefines-the-purpose-of-a-corporation-to-promote-an-economy-that-serves-all-americans\" target=\"_blank\" rel=\"noopener\">original mission<\/a>\u00a0of creating value in business. If they truly care about starving inflation and not passing costs down to consumers, they must immediately reassess stakeholder capitalism and reverse course.\u201d<\/p>\n<p>Even though Americans are more aware of the dangers associated with ESG investing, John Carney, Breitbart News Economics Editor, has stated that the battle against ESG is over.<\/p>\n<p>Carney <a href=\"https:\/\/www.breitbart.com\/economy\/2023\/01\/17\/breitbart-business-digest-the-fight-against-esg-has-only-just-begun\/\">explained<\/a> The need for domestic production has been exposed by the conflict between Russia and Ukraine.<\/p>\n<blockquote>\n<p>Even though Joe Biden claimed otherwise, the Democrats deny being at war with fossil fuels.\u00a0<a href=\"https:\/\/www.breitbart.com\/politics\/2022\/06\/16\/flashback-joe-biden-i-guarantee-you-were-going-to-end-fossil-fuels\/\">promised<\/a>\u00a0To \u201cend fossil fuels\u201d During the campaign, his first actions as President of America included anti-fossilfuel policies like the\u00a0<a href=\"https:\/\/www.breitbart.com\/2020-election\/2021\/01\/21\/american-workers-business-leaders-on-biden-axing-keystone-pipeline-slap-in-face-to-union-members\/\">cancellation<\/a>\u00a0The Keystone pipeline\u00a0<a href=\"https:\/\/www.breitbart.com\/politics\/2021\/02\/12\/reunited-u-s-affirms-climate-accords-w-h-o-as-biden-rushes-to-embrace-indispensable-u-n\/\">embracing<\/a>\u00a0The Paris Climate Accord. Putin\u2019s invasion of Russia was the shock that finally dispelled the illusion of a free and easy transition away from fossil fuels. This forced Biden spend much of last yea\u00a0<a href=\"https:\/\/www.breitbart.com\/economy\/2022\/08\/03\/opec-agrees-to-tiny-increase-in-oil-production-rejecting-bidens-call-for-more\/\">begging<\/a>\u00a0Saudi Arabia for more oil\u00a0<a href=\"https:\/\/www.breitbart.com\/politics\/2022\/11\/03\/oe-biden-complains-oil-companies-should-be-drilling-more-after-vowing-to-end-fossil-fuels\/\">chastising<\/a>\u00a0American drillers are not allowed to drill more.<\/p>\n<\/blockquote>\n<p>\u201cThe year 2022 was when Americans starting pushing back in earnest against the toxic combination of finance and left-wing politics that claims for itself the mantle of environmental stewardship and good corporate governance. As Gore\u2019s words from Davos and the Reclaim Finance report demonstrate, the struggle is far from over,\u201d Carney made the announcement in the Breitbart News Digest.<\/p>\n<div class=\"entry-content\">\n<div>\n<div>\n<div>\n<div>\n<div class=\"entry-content\">\n<p><i>Sean Moran is a policy journalist at Breitbart News. Follow Sean Moran on Twitter\u00a0<\/i><a class=\"x5l\" href=\"https:\/\/twitter.com\/SeanMoran3\" target=\"_blank\" rel=\"noopener external\"><i>@SeanMoran3<\/i><\/a><i>.<\/i><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u201cESG-driven inflation is pushing higher prices on hardworking American consumers and forcing taxpayers to pay the bill for the progressive agenda of megalomaniacs like BlackRock CEO Larry Fink,\u201d Will Hild, the executive director of Consumers\u2019 Research, told Breitbart News in a statement. \u201cWith supply chains still being disrupted and prioritization of liberal political goals forcing &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1810317,"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":[15576,5458,11760,15575,6478,7233,3819],"class_list":["post-1810314","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-greenflation","tag-bongino","tag-esgs","tag-factor","tag-investing","tag-key","tag-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\/1810314","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=1810314"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1810314\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1810317"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1810314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1810314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1810314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}