Biden’s ESG: The BlackRock-Davos-UN Agenda Gets Smacked by Congress, States, Markets
Opposition to “woke” ESG corporatism is snowballing, as Joe Biden and Larry Fink found out this past week. Fink is the billionaire CEO of BlackRock, the world’s largest asset manager with $8 trillion under management. He is also one of Biden’s biggest boosters and the most prominent corporate promoter of ESG, the controversial rating system that is pushing companies to adopt “progressive” Soros-style policies rather than carry out their legal and fiduciary responsibilities to their shareholders. ESG, which stands for Environment, Social, and Governance, is a scheme aimed at pressuring businesses into joining the politically correct stampede on climate change, decarbonization, sustainable development, and so-called social justice and racial justice issues such as gun control, abortion rights, LGBTQ equity, and critical race theory.
Belated Rally Against ESG Juggernaut
Although ESG has only hit the general public’s radar screens in the past year or so, the ESG program, like most globalist intrigues, has been quietly in the works for decades. (We will return to that important history in a moment.) However, with the dangers of ESG now far more readily apparent, opposition is belatedly forming. Congress is stepping into the breach. State legislatures, governors, and attorney generals are also taking action.
On Tuesday, February 28, the U.S. House of Representatives fired the first salvo aimed at nixing the administration’s ESG program for 401(k) retirement investing, as put forward by the Biden Labor Department’s new rule, known as the “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights.” The Labor rule, crafted pursuant to an executive order by
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