“Sustainability” investment became popular a few years ago. So -called experts have stated that companies should not concentrate only on profits. They should work more for “good”.
All the funds to promote ESG (environment, society, governance) were all angry.
A huge investment company like a black rock has put pressure on hiring more women and minority by company. “All investments can be investigated through sustainability,” said CEO’s Larry Fink.
However, “sustainability” is almost meaningless. PARNASSUS has argued that investing in US foods and Clorox has helped to achieve the sustainable goals of the United Nations and hygiene.
Starbucks has gradually abolished plastic straws while adding lids that use more plastic. BP changed its brand, “beyond oil.” Wise, it was mainly invested in oil.
Former Vice President Al Gore earned money to sell climate change hysteria. He created a “sustainable investment fund” and claims that “sustainable factors … we will actually strengthen the return!” His funds have strengthened Gore’s own return. He made millions of things. However, in the past three years, his “sustainable” fund has reduced the performance of the stock market. Recently, the fund manager acknowledged that he made a mistake in investing.
Most funds that promote “sustainable investments” have worsened than the market. So why was the $ trillions poured into such funds?
“For pressure” say MATT COLE, CEO of Strive Investments. “Their biggest clients are Blue States pensions (funds) like Calpers and New York pensions (funds).
Carpers still boasts to add “Help of climate risks” and “members of the Board of Directors with a sense of climate” to the Board of Directors of Exon. John Kelly, the presidential climate, is a richly bullied bank.
Today, banks and black rocks are running from sustainability nonsense.
Call says, “What you are watching,” says, “The ESG fund is closed at a record speed … and they don’t apologize.”
I will never be progressive.
This trend did not just hurt investors. It will hurt the companies that the United States needs.
The United States requires high -performance computer chips. Intel was once a major chip manufacturer. However, despite the fact that Congress has given billions of dollars in taxpayers’ distribution materials, the company has reduced thousands of employment.
why? Intel’s competitors have innovated, but Intel has become absorbed in “sustainability.”
Intel Web site He lists endless ESG goals such as “Environment, Health, Wellness, and Safety Programs take care of the planet with people.” It boasts “green software” … what is it?
It is a lot of energy that spends the best chips. If a company spends time to inhale in politicians, it often declines. Intel’s shares decreased by 60 % last year.
Fortunately, today, more companies are focusing on basic capitalism and producing better products with less money.
Ford recently announced that it would no longer require employees to be investigated by the LGBTQ Advoca Group.
USA TODAY reports that Lowe has reduced the number of participation in the human rights campaign and “focus on safe and affordable housing.”
When I was a joint host of “20/20”, I wondered what would happen when Disney purchased ABC. It doesn’t change much for a while. However, a few years later, after repeatedly refused the video that suggested the Obam Care issue, ABC fired me. Still, I laughed when Disney woke up completely.
“Our story has many LGBTQIA characters, but not enough,” said the president of the Entertainment Content Division. Disney’s TV animation producer added, “I was able to add Quickness, wherever I was.”
However, many such movies flop. The Marvels, featuring Muslim teenagers and black women’s buddy, lost $ 237 million. Lightyear, which featured the first same -sex kiss in a Disney Pixar movie, lost $ 16 million. “ELEMENTAL”, which features non -binary characters (lakes with earrings), did not reach $ 30 million in the opening week.
Disney is shrinking quietly.
More companies are starting to recognize the need to concentrate on the core business, not the signature of the virtue.
“It’s the beginning of rewind,” call says.
Why was it so stupid in the first place?
Every Tuesday, at Johnstosel.com, Stossel will post a new video about the government and freedom. He is the author of Give Me A Break: How to reveal how to reveal the How Sefted HuckSter, Cheats, Camt artist and become a tragedy of liberal media.
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