Republicans are expected to crack down on environmental and socially conscious investing, known as ESG, when they retake the House next year.
ESG, which stands for environmental, social and governance investing, is a broad term for attempts to invest ethically, and can include actions by the government, investment firms and banks or individuals.
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Doesn’t matter as there will soon be nothing to invest in. Extinction is for everyone.
Well, the longer we take to take action to prevent climate change, the more likely humans will end up becoming extinct. However, at least it won't happen in our lifetimes.
I do think we do need to do all we can to prevent climate changes to reduce the likelihood of humans going extinct.
@rainmanjr I was thinking that with climate change, and excluding any nuclear wars, it would take at least at least 500 years for the last humans to die out.
I'd say the biggest dangers have to do with how climate change will ultimately affect the availability of food. Not just for humans but for most animals.
ESG investing is very similar to what the PRC Communist party does to its citizens. The monitor every citizen closely and each citizen gets a social credit score.
If you want to do anything in China, they will look at your score and decide whether you can:
Travel
Buy a House
Buy a Car
Get a Loan
etc.
ESG Investing is a similar method where Social Justice Warriors attempt to exert control over companies by cutting off their access to capital.
Most governments uses incentives and/or punishments in order to try to steer their economies into a desirable direction. The U.S. policies are hardly anywhere near as draconian as those of China, and there are no proposals to go anywhere near that far.
In the case of ESG, it is a case of whether to just let the excesses of capitalism go unchecked or to incentivize business to be socially responsible and not just prioritize profits, but to also try to make a better world. (Thus the inclusion of the comic I added with the article).
I guess it all comes down to priorities and whether you put profits over people, or if you think the rich, who got rich through exploiting the labor and ideas of other people have any responsibility to the people whose labor made them and keep them rich. Personally, I think that those who do the actual work, shoudl receive a greater benefit from the fruits of their labors, instead of almost all of it going to the top.
Dog forbid that we should consider anything other than profits.
From the link
Republicans argue that ESG could harm the fossil fuel industry, and that the government should not be providing incentives to foster it. The burning of fossil fuels is the main driver of climate change, so entities operating under this philosophy may not put as much money into this industry as they would have otherwise.
Republicans have also raised concerns that money managers who take these factors into account may do so at the expense of profits for their clients.