by Tom Kelly
Have you heard about this thing called ESG? I for one am trying to wrap my head around ESG. What is it and why should we care?
I offer the reader a 30-minute video with an explanation by podcaster Larry Taunton – Larry Taunton on the Forces Behind the ESG Movement (rumble.com). If you want to learn more about ESG the video is well worth your time. It does not answer every question but it’s a good starting point perhaps.
Taunton says Elon Musk, of all people, has labelled ESG “Satanic”. Taunton says ESG is part of a Utopian movement which has contempt for the will of the people and only answers to its “stakeholders.” He says watch out for euphemisms like “sustainability” which he likens to the WWII policy in Germany known as “the final solution” a euphemism for the extermination of millions of Jews.
Is the ESG movement intentionally obscure? No doubt. Should those of us interested in individual rights and freedom learn more about it? Absolutely.
The State of Vermont has the following investment policy, copied directly from the state website, vermont.gov. Note the highlighted word “sustainability.” May God help us.
Environmental, Social, and Governance (ESG) Focus
The Treasurer’s Office and the Vermont Pension Investment Committee (VPIC) consider financial factors and environmental, social, and governance (ESG) factors in their investment decisions. The VPIC has a long-term investment strategy consistent with the duration of Retirement System liabilities, so the Board developed a VPIC ESG Policy to integrate ESG factors consistently into the investment decision process. The VPIC believes that the development, disclosure, and reporting of ESG analysis equips management teams to effectively monitor and mitigate the company’s exposure to ESG-related risks and track performance outcomes.
The Treasurer’s Office and the VPIC emphasize through engagement with companies the importance of disclosure and reporting be consistent with industry-recognized guidelines, such as those developed by the Sustainability Accounting Standards Board, of which the VPIC is a member, the Task Force on Climate-related Financial Disclosures, as well as targets set forth by the Paris Climate Agreement. The Treasurer and VPIC are committed to a long-term process of constructive engagement with companies to address environmental, social and governance issues. (emphasis added).
The author is an attorney, former candidate for the Legislature, coordinator for 40 Days for Life – Barre, and a Barre resident.