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ESG: Headed For the Ash Heap Of History?

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Posted By: Dreadnought, 6/24/2024 1:01:58 AM

Environmental/Social/Governance (ESG) investing is one of the most repellent fads of recent years. Happily, the Telegraph reports that a decisive turning point may have been reached: “How the ‘woke capitalist’ gravy train came to a juddering halt.” First, some history: While the acronym only rose to prominence in the City in the last five years, ESG has been around for far longer. The term was first coined in 2005 in a UN report called “Who Cares Wins”, which argued that companies where bosses behaved ethically would deliver better returns for shareholders. That could be true, although I can’t imagine how you could demonstrate it empirically.

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Reply 1 - Posted by: DogFacedPonySoldier 6/24/2024 5:19:10 AM (No. 1742431)
It isn’t going away. It will just be renamed.
8 people like this.

Reply 2 - Posted by: bpl40 6/24/2024 8:10:50 AM (No. 1742506)
For most of known history, mankind has not been able to create wealth in the modern sense. Trading was always a zero sum game. The Industrial Revolution spurred by capitalism changed that. THIS is the biggest factor that sets the West apart from other cultures. Those that adopted it - like post war Japan or Korea prospered rapidly. The Joint Stock Corporation - invented by the West is the main engine of this vast expansion. With maximizing the net present value (NPV) of the share holders' wealth being it's core principle. The day we walk away from this will be the first step on a slippery slope to ruin.
5 people like this.

Reply 3 - Posted by: Rumblehog 6/24/2024 8:30:06 AM (No. 1742526)
DEI will be in good company in the corporate trash heap, along with "Total Quality Management," and "Six Sigma for Growth."
6 people like this.

Reply 4 - Posted by: JimBob 6/24/2024 9:16:16 AM (No. 1742545)
DEI: Didn't Earn It. I am reminded of the mid-'70's when I entered university. Someone asked me what I was majoring in and I replied 'Engineering'. They replied "You mean pre-Business Administration." Apparently, the people who failed after one semester of Engineering -the hardest course of study at that university- would change majors to Business Administration, the easiest course of study at that university. Their sarcastic comment says a lot about the quality and intelligence of the people who have been going into management -and running companies into the ground here in the US- for a very long time.
4 people like this.

Reply 5 - Posted by: jeffkinnh 6/24/2024 9:19:24 AM (No. 1742548)
I knew this was a garbage scam as soon as I heard about it. However, as it rose, I invested a bit in it. As soon as it plateaued, I pulled out. You can make money on stupid people. What staggers me is, the companies have a fiduciary duty (a legal obligation ) to shareholders to act in their best interests. The whole thing was baloney, companies that pushed it were lying and had NO proof that seeking vague ESG goals would benefit a company or its shareholders. This was a fraud, perpetrated on investors. There should be class action lawsuits against the boards of the companies that pushed this. One of the goals of the lawsuits should be the removal of any officers that pushed ESG. It, and the people that supported it, needs to be purged from the financial management system.
4 people like this.

Reply 6 - Posted by: Hazymac 6/24/2024 9:24:30 AM (No. 1742553)
#1's correct. ESG will rearrive under separate cover with a better name. The tactics of the Marxist Left don't change. Like their spiritual ancestors, the Viet Cong, they never give up. One of their most predictable tactics is destroying the language, perverting meanings of words. Whoever controls definitions controls the debate.
4 people like this.

Reply 7 - Posted by: MickTurn 6/24/2024 10:49:21 AM (No. 1742609)
ESG.....Extra Special Goop. You know, the special stuff found in the Sewer.
2 people like this.

Reply 8 - Posted by: DVC 6/24/2024 11:15:58 AM (No. 1742642)
Saying that following stupid "ESG" approach is "behaving ethically" is a LIE. It is unethical., crazy and non-sensical. Leftist politics and eco-crazy lies don't make for "ethical".
2 people like this.

Reply 9 - Posted by: mc squared 6/24/2024 11:26:52 AM (No. 1742654)
Global Cooling became Global Warming. More recently it became Climate Change. What will ESG become? Got to keep the scam going.
3 people like this.

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