Billionaire and Tesla CEO Elon Musk slammed woke corporate policies as “the Devil Incarnate” on Twitter.
Is the world’s richest man, worth $298 billion according to Forbes, totally based now?
Musk has recently been a big name in business. tweeting, “I am increasingly convinced that corporate ESG is the Devil Incarnate,” on April 3. According to Investopedia, ESG is an acronym for environment, social, and governance principles. Recent years have witnessed a boom in investments in companies with ESG principles, such as financial giant BlackRock or even Microsoft.
I have come to believe that ESG for corporates is the Devil incarnate.
— Elon Musk (@elonmusk) April 3, 2022
ESG rules: What’s so evil about them? Blaze Media co-founder Glenn Beck explained that ESGs will extend the government’s hand even further into the pockets of small businesses and families on the Jan. 19 episode of The Glenn Beck Podcast.
Beck stated that ESG funds can be compared to Chinese Communist Party social credit scores. “Basically, if a bank or a company doesn’t meet the standards of those three metrics, then they’re given a low grade that looks similar to a credit score,” he said.
Beck explained that Beck’s credit score isn’t the standard definition of the word. “What happens when you get a low or failing credit rating?” Beck asked. “Well, you’re locked out because that’s not the direction the world is going. And so you become a risk to the bank and to the community.”
This means that people are at risk of ESG regulations in the event they don’t follow Beck’s advice on homosexual rights, climate change, or any other topic elite board members consider morally questionable.
While the mighty CEO of BlackRock Larry Fink postured himself as a capitalist in his 2022 Letter to CEOs, he also touted ESGs and claimed that “climate risk is investment risk.”
But wokeness isn’t the only problem with ESGs, it seems. The Associated Press (AP) reported that a Los Angeles judge ruled on April 1 that mandating corporations in California “diversify their boards with members from certain racial, ethnic or LGBT groups is unconstitutional.”
Even some Californians seem to be aware of ESG regulations’ negative effects.
Musk’s comments followed on the heels of a March 21 Washington Post report that revealed a proposed ruling by a powerful government agency, the Securities and Exchange Commission (SEC), would mandate “hundreds of businesses report their planet-warming emissions in a standardized way.”
Unsurprisingly, The Post celebrated the news as a reflection of President Joe Biden’s so-called leadership in fighting climate change.
At least one reporter suggested that the SEC’s proposed rule would create a boon for the ESG industry. Bloomberg Opinion columnist Matt Levine wrote in an article headlined Everyone Wants to Do ESG Now, “Man is [the SEC’s decision] going to create a lot of ESG jobs.”
Conservatives under attack Call ABC News at 818-460-7477 or CBS News @ (212- 975-3247) and NBC News At (212- 664-6192 to request that they cover the risks of ESGs imposed corporately.