-
Environmental, Social and Governance (ESG) | Framework and Standards
ESG takes the holistic view that sustainability extends beyond just environmental issues. In this video, we introduce the ESG framework and standards, the evolution of ESG, and how important the framework has become in the investment community.
To learn more about ESG, check out our free resource: https://loom.ly/r6Z3_84
Want to get specialized in ESG? Check out our (ESG) Environmental Social Governance Bundle: https://loom.ly/ytL-P34
Is there a topic you'd like to learn more about? Our resource library has over 10,000 articles, templates, and other tools to help you upskill: https://loom.ly/QyGfPxg
What is Corporate Finance Institute?
Founded in 2016, CFI is the largest and most recognized finance training, certification, and skill development platform in the world. Powered by leadi...
published: 30 Aug 2022
-
Warren Buffett: We'll Never Waste Time And Money On ESG Reporting
Warren Buffett isn't known for going along with the trends of corporate America, and in the case of ESG, he's been no different. In the second half of the video, he and Charlie Munger also discuss the weaknesses of corporate boards.
published: 09 Feb 2023
-
ESG Explained: Socially Conscious Capitalism and Its Backlash
Republican state leaders have been pulling billions out of pension funds managed by investment firms like Black Rock. Why? Something called ESG. It stands for environmental, social and governance, and it's at the center of a heated debate over whether socially-conscious goals should factor into business and investing decisions.
There has been little regulation of ESG so far, but things are changing. Rules are coming both in the US and abroad. In this video, we explain what ESG is, why it’s become such a hot topic and what regulation — and litigation — we can expect in the near future.
published: 07 Mar 2023
-
Sustainability 101: ESG Reporting
What is ESG and why is it important for your organization?
👉 Subscribe for more videos https://www.youtube.com/channel/UCGEdtGuKe2fJoP4R1ybTydA?sub_confirmation=1
👉 Follow us on social media
‣ LinkedIn https://www.linkedin.com/company/constellation-energy
‣ Facebook https://www.facebook.com/ConstellationEnergy
‣ Instagram https://www.instagram.com/constellationenergy
‣ X https://x.com/constellationeg
👉 Visit our website http://constellation.com
Constellation is the nation’s largest producer of carbon-free energy and the leading competitive retail supplier of power and energy products and services for homes and businesses across the United States.
published: 25 Jan 2022
-
Who killed the ESG party? | FT Film
ESG investing was until recently one of the hottest buzzwords in global finance. The party was in full swing, the marketing material was everywhere and the money was rolling in. But asset managers have become quieter about their environmental, social and governance credentials after poor performance, greenwashing scandals and a political backlash in the US. So who killed the ESG party? This film looks at the suspects
#finance #esg #climatechange #sustainability #sustainableinvesting #responsibleinvesting #investment #markets #funds #assetmanagement #wallstreet #newyork #london #cityoflondon #investment #pensions #savings #greenwashing #environment #social #governance #investors
00:00 - Introduction
00:50 - What is ESG?
03:25 - Suspect 1: Vladimir Putin
05:23 - Suspect 2: Tucker Carlson...
published: 17 Jul 2024
-
What is Environmental, Social, and Governance (ESG)?
Environmental, social and governance, also called ESG, is a term used to represent the sustainable and ethical impacts of a company’s corporate financial interests. Learn more in this video.
🔎 Read more:
What is ESG ➡️ https://www.techtarget.com/whatis/definition/environmental-social-and-governance-ESG?
CEOs on ESG’s importance ➡️ https://www.techtarget.com/searchcio/news/252518455/CEOs-name-environmental-sustainability-a-top-business-focus?
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Follow Eye on Tech:
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published: 19 Aug 2022
-
The ESG investment backlash is beginning to have an impact | FT Moral Money
Over the past couple of years, ESG investment has taken the financial and corporate world by storm, but now, an ESG backlash is gathering steam. The FT’s Gillian Tett explains that while much of this criticism has come from the American right, it’s not just conservative politicians criticising the ESG agenda, and these complaints are having an impact.
#esg #investing #politics
See if you get the FT for free as a student (http://ft.com/schoolsarefree) or start a £1 trial: https://subs.ft.com/spa3_trial?segmentId=3d4ba81b-96bb-cef0-9ece-29efd6ef2132.
► Check out our Community tab for more stories on the economy.
► Listen to our podcasts: https://www.ft.com/podcasts
► Follow us on Instagram: https://www.instagram.com/financialtimes'
published: 07 Feb 2023
-
ESG EXPOSED - A $66 Trillion Dollar Weapon Used To Control Corporate America
In this video, Patrick explains why companies fear ESG ratings, the history behind the ESG system, and the institutions pushing it.
Get Your VAULT Tickets:
https://valuetainment-team.slack.com/archives/D04UEA5DBT9/p1686419635517679
FaceTime or Ask Patrick any questions on https://minnect.com/
Recommended video: The Dark Side Of CBDC Explained https://www.youtube.com/watch?v=EAhuOJ3bo8g&t=8s
Subscribe to our channel: http://bit.ly/2aPEwD4
To reach the Valuetainment team, you can email: [email protected]
#georgesoros #usa #money
published: 21 Jun 2023
-
ESEF, ESG e utilizzo dei dati XBRL
Bilanci in formato ESEF e rendicontazioni di sostenibilità
published: 06 Dec 2024
-
ESG: Woke to Broke | 5 Minute Video
What’s more important for a company: to make a profit, or to do “social good?” More and more companies seem to be focusing on the latter. But is that a good business strategy? And, what does that mean for the economy, for you… and your bank account?
🚨 PragerU is experiencing severe censorship on Big Tech platforms. Go to https://www.prageru.com/ to watch our videos free from censorship!
SUBSCRIBE 👉 https://www.prageru.com/join/
Take PragerU videos with you everywhere you go. Download our free mobile app!
Download iOS: https://itunes.apple.com/us/app/prageru/id1115115779
Download Android: https://play.google.com/store/apps/details?id=com.cappital.prageru
To view the FACTS & SOURCES and Transcript, visit: https://www.prageru.com/video/esg-woke-to-broke
Join PragerU's text list! https:...
published: 18 Oct 2021
2:27
Environmental, Social and Governance (ESG) | Framework and Standards
ESG takes the holistic view that sustainability extends beyond just environmental issues. In this video, we introduce the ESG framework and standards, the evolu...
ESG takes the holistic view that sustainability extends beyond just environmental issues. In this video, we introduce the ESG framework and standards, the evolution of ESG, and how important the framework has become in the investment community.
To learn more about ESG, check out our free resource: https://loom.ly/r6Z3_84
Want to get specialized in ESG? Check out our (ESG) Environmental Social Governance Bundle: https://loom.ly/ytL-P34
Is there a topic you'd like to learn more about? Our resource library has over 10,000 articles, templates, and other tools to help you upskill: https://loom.ly/QyGfPxg
What is Corporate Finance Institute?
Founded in 2016, CFI is the largest and most recognized finance training, certification, and skill development platform in the world. Powered by leading instructors, innovative curriculum designers, and proprietary technology, CFI provides the leading resource for finance professionals globally, including productivity tools, certification, and online training for financial modeling, valuation, lending, securities, capital markets, data science, business intelligence, cryptocurrencies, and more.
https://wn.com/Environmental,_Social_And_Governance_(Esg)_|_Framework_And_Standards
ESG takes the holistic view that sustainability extends beyond just environmental issues. In this video, we introduce the ESG framework and standards, the evolution of ESG, and how important the framework has become in the investment community.
To learn more about ESG, check out our free resource: https://loom.ly/r6Z3_84
Want to get specialized in ESG? Check out our (ESG) Environmental Social Governance Bundle: https://loom.ly/ytL-P34
Is there a topic you'd like to learn more about? Our resource library has over 10,000 articles, templates, and other tools to help you upskill: https://loom.ly/QyGfPxg
What is Corporate Finance Institute?
Founded in 2016, CFI is the largest and most recognized finance training, certification, and skill development platform in the world. Powered by leading instructors, innovative curriculum designers, and proprietary technology, CFI provides the leading resource for finance professionals globally, including productivity tools, certification, and online training for financial modeling, valuation, lending, securities, capital markets, data science, business intelligence, cryptocurrencies, and more.
- published: 30 Aug 2022
- views: 263613
8:30
Warren Buffett: We'll Never Waste Time And Money On ESG Reporting
Warren Buffett isn't known for going along with the trends of corporate America, and in the case of ESG, he's been no different. In the second half of the video...
Warren Buffett isn't known for going along with the trends of corporate America, and in the case of ESG, he's been no different. In the second half of the video, he and Charlie Munger also discuss the weaknesses of corporate boards.
https://wn.com/Warren_Buffett_We'll_Never_Waste_Time_And_Money_On_Esg_Reporting
Warren Buffett isn't known for going along with the trends of corporate America, and in the case of ESG, he's been no different. In the second half of the video, he and Charlie Munger also discuss the weaknesses of corporate boards.
- published: 09 Feb 2023
- views: 171292
7:02
ESG Explained: Socially Conscious Capitalism and Its Backlash
Republican state leaders have been pulling billions out of pension funds managed by investment firms like Black Rock. Why? Something called ESG. It stands for e...
Republican state leaders have been pulling billions out of pension funds managed by investment firms like Black Rock. Why? Something called ESG. It stands for environmental, social and governance, and it's at the center of a heated debate over whether socially-conscious goals should factor into business and investing decisions.
There has been little regulation of ESG so far, but things are changing. Rules are coming both in the US and abroad. In this video, we explain what ESG is, why it’s become such a hot topic and what regulation — and litigation — we can expect in the near future.
https://wn.com/Esg_Explained_Socially_Conscious_Capitalism_And_Its_Backlash
Republican state leaders have been pulling billions out of pension funds managed by investment firms like Black Rock. Why? Something called ESG. It stands for environmental, social and governance, and it's at the center of a heated debate over whether socially-conscious goals should factor into business and investing decisions.
There has been little regulation of ESG so far, but things are changing. Rules are coming both in the US and abroad. In this video, we explain what ESG is, why it’s become such a hot topic and what regulation — and litigation — we can expect in the near future.
- published: 07 Mar 2023
- views: 50813
3:47
Sustainability 101: ESG Reporting
What is ESG and why is it important for your organization?
👉 Subscribe for more videos https://www.youtube.com/channel/UCGEdtGuKe2fJoP4R1ybTydA?sub_confirmatio...
What is ESG and why is it important for your organization?
👉 Subscribe for more videos https://www.youtube.com/channel/UCGEdtGuKe2fJoP4R1ybTydA?sub_confirmation=1
👉 Follow us on social media
‣ LinkedIn https://www.linkedin.com/company/constellation-energy
‣ Facebook https://www.facebook.com/ConstellationEnergy
‣ Instagram https://www.instagram.com/constellationenergy
‣ X https://x.com/constellationeg
👉 Visit our website http://constellation.com
Constellation is the nation’s largest producer of carbon-free energy and the leading competitive retail supplier of power and energy products and services for homes and businesses across the United States.
https://wn.com/Sustainability_101_Esg_Reporting
What is ESG and why is it important for your organization?
👉 Subscribe for more videos https://www.youtube.com/channel/UCGEdtGuKe2fJoP4R1ybTydA?sub_confirmation=1
👉 Follow us on social media
‣ LinkedIn https://www.linkedin.com/company/constellation-energy
‣ Facebook https://www.facebook.com/ConstellationEnergy
‣ Instagram https://www.instagram.com/constellationenergy
‣ X https://x.com/constellationeg
👉 Visit our website http://constellation.com
Constellation is the nation’s largest producer of carbon-free energy and the leading competitive retail supplier of power and energy products and services for homes and businesses across the United States.
- published: 25 Jan 2022
- views: 100223
27:58
Who killed the ESG party? | FT Film
ESG investing was until recently one of the hottest buzzwords in global finance. The party was in full swing, the marketing material was everywhere and the mone...
ESG investing was until recently one of the hottest buzzwords in global finance. The party was in full swing, the marketing material was everywhere and the money was rolling in. But asset managers have become quieter about their environmental, social and governance credentials after poor performance, greenwashing scandals and a political backlash in the US. So who killed the ESG party? This film looks at the suspects
#finance #esg #climatechange #sustainability #sustainableinvesting #responsibleinvesting #investment #markets #funds #assetmanagement #wallstreet #newyork #london #cityoflondon #investment #pensions #savings #greenwashing #environment #social #governance #investors
00:00 - Introduction
00:50 - What is ESG?
03:25 - Suspect 1: Vladimir Putin
05:23 - Suspect 2: Tucker Carlson
13:52 - Suspect 3: Desiree Fixler
16:29 - Problems with ESG labelling
22:12 - Suspect 4: Stuart Kirk
24:11 - Does ESG need to be rethought?
See if you get the FT for free as a student (http://ft.com/schoolsarefree) or start a £1 trial: https://subs.ft.com/spa3_trial?segmentId=3d4ba81b-96bb-cef0-9ece-29efd6ef2132.
► Check out our Community tab for more stories: https://www.youtube.com/@FinancialTimes/community
► Listen to our podcasts: https://www.ft.com/podcasts
► Follow us on Instagram: https://www.instagram.com/financialtimes'
https://wn.com/Who_Killed_The_Esg_Party_|_Ft_Film
ESG investing was until recently one of the hottest buzzwords in global finance. The party was in full swing, the marketing material was everywhere and the money was rolling in. But asset managers have become quieter about their environmental, social and governance credentials after poor performance, greenwashing scandals and a political backlash in the US. So who killed the ESG party? This film looks at the suspects
#finance #esg #climatechange #sustainability #sustainableinvesting #responsibleinvesting #investment #markets #funds #assetmanagement #wallstreet #newyork #london #cityoflondon #investment #pensions #savings #greenwashing #environment #social #governance #investors
00:00 - Introduction
00:50 - What is ESG?
03:25 - Suspect 1: Vladimir Putin
05:23 - Suspect 2: Tucker Carlson
13:52 - Suspect 3: Desiree Fixler
16:29 - Problems with ESG labelling
22:12 - Suspect 4: Stuart Kirk
24:11 - Does ESG need to be rethought?
See if you get the FT for free as a student (http://ft.com/schoolsarefree) or start a £1 trial: https://subs.ft.com/spa3_trial?segmentId=3d4ba81b-96bb-cef0-9ece-29efd6ef2132.
► Check out our Community tab for more stories: https://www.youtube.com/@FinancialTimes/community
► Listen to our podcasts: https://www.ft.com/podcasts
► Follow us on Instagram: https://www.instagram.com/financialtimes'
- published: 17 Jul 2024
- views: 199792
2:40
What is Environmental, Social, and Governance (ESG)?
Environmental, social and governance, also called ESG, is a term used to represent the sustainable and ethical impacts of a company’s corporate financial intere...
Environmental, social and governance, also called ESG, is a term used to represent the sustainable and ethical impacts of a company’s corporate financial interests. Learn more in this video.
🔎 Read more:
What is ESG ➡️ https://www.techtarget.com/whatis/definition/environmental-social-and-governance-ESG?
CEOs on ESG’s importance ➡️ https://www.techtarget.com/searchcio/news/252518455/CEOs-name-environmental-sustainability-a-top-business-focus?
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Instagram: https://www.instagram.com/eyeontech_tt/
#ESG #greencomputing #sustainability #EyeOnTech
https://wn.com/What_Is_Environmental,_Social,_And_Governance_(Esg)
Environmental, social and governance, also called ESG, is a term used to represent the sustainable and ethical impacts of a company’s corporate financial interests. Learn more in this video.
🔎 Read more:
What is ESG ➡️ https://www.techtarget.com/whatis/definition/environmental-social-and-governance-ESG?
CEOs on ESG’s importance ➡️ https://www.techtarget.com/searchcio/news/252518455/CEOs-name-environmental-sustainability-a-top-business-focus?
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Instagram: https://www.instagram.com/eyeontech_tt/
#ESG #greencomputing #sustainability #EyeOnTech
- published: 19 Aug 2022
- views: 87895
3:14
The ESG investment backlash is beginning to have an impact | FT Moral Money
Over the past couple of years, ESG investment has taken the financial and corporate world by storm, but now, an ESG backlash is gathering steam. The FT’s Gillia...
Over the past couple of years, ESG investment has taken the financial and corporate world by storm, but now, an ESG backlash is gathering steam. The FT’s Gillian Tett explains that while much of this criticism has come from the American right, it’s not just conservative politicians criticising the ESG agenda, and these complaints are having an impact.
#esg #investing #politics
See if you get the FT for free as a student (http://ft.com/schoolsarefree) or start a £1 trial: https://subs.ft.com/spa3_trial?segmentId=3d4ba81b-96bb-cef0-9ece-29efd6ef2132.
► Check out our Community tab for more stories on the economy.
► Listen to our podcasts: https://www.ft.com/podcasts
► Follow us on Instagram: https://www.instagram.com/financialtimes'
https://wn.com/The_Esg_Investment_Backlash_Is_Beginning_To_Have_An_Impact_|_Ft_Moral_Money
Over the past couple of years, ESG investment has taken the financial and corporate world by storm, but now, an ESG backlash is gathering steam. The FT’s Gillian Tett explains that while much of this criticism has come from the American right, it’s not just conservative politicians criticising the ESG agenda, and these complaints are having an impact.
#esg #investing #politics
See if you get the FT for free as a student (http://ft.com/schoolsarefree) or start a £1 trial: https://subs.ft.com/spa3_trial?segmentId=3d4ba81b-96bb-cef0-9ece-29efd6ef2132.
► Check out our Community tab for more stories on the economy.
► Listen to our podcasts: https://www.ft.com/podcasts
► Follow us on Instagram: https://www.instagram.com/financialtimes'
- published: 07 Feb 2023
- views: 83947
17:59
ESG EXPOSED - A $66 Trillion Dollar Weapon Used To Control Corporate America
In this video, Patrick explains why companies fear ESG ratings, the history behind the ESG system, and the institutions pushing it.
Get Your VAULT Tickets:
htt...
In this video, Patrick explains why companies fear ESG ratings, the history behind the ESG system, and the institutions pushing it.
Get Your VAULT Tickets:
https://valuetainment-team.slack.com/archives/D04UEA5DBT9/p1686419635517679
FaceTime or Ask Patrick any questions on https://minnect.com/
Recommended video: The Dark Side Of CBDC Explained https://www.youtube.com/watch?v=EAhuOJ3bo8g&t=8s
Subscribe to our channel: http://bit.ly/2aPEwD4
To reach the Valuetainment team, you can email:
[email protected]
#georgesoros #usa #money
https://wn.com/Esg_Exposed_A_66_Trillion_Dollar_Weapon_Used_To_Control_Corporate_America
In this video, Patrick explains why companies fear ESG ratings, the history behind the ESG system, and the institutions pushing it.
Get Your VAULT Tickets:
https://valuetainment-team.slack.com/archives/D04UEA5DBT9/p1686419635517679
FaceTime or Ask Patrick any questions on https://minnect.com/
Recommended video: The Dark Side Of CBDC Explained https://www.youtube.com/watch?v=EAhuOJ3bo8g&t=8s
Subscribe to our channel: http://bit.ly/2aPEwD4
To reach the Valuetainment team, you can email:
[email protected]
#georgesoros #usa #money
- published: 21 Jun 2023
- views: 980688
4:03:45
ESEF, ESG e utilizzo dei dati XBRL
Bilanci in formato ESEF e rendicontazioni di sostenibilità
Bilanci in formato ESEF e rendicontazioni di sostenibilità
https://wn.com/Esef,_Esg_E_Utilizzo_Dei_Dati_Xbrl
Bilanci in formato ESEF e rendicontazioni di sostenibilità
- published: 06 Dec 2024
- views: 459
5:31
ESG: Woke to Broke | 5 Minute Video
What’s more important for a company: to make a profit, or to do “social good?” More and more companies seem to be focusing on the latter. But is that a good bus...
What’s more important for a company: to make a profit, or to do “social good?” More and more companies seem to be focusing on the latter. But is that a good business strategy? And, what does that mean for the economy, for you… and your bank account?
🚨 PragerU is experiencing severe censorship on Big Tech platforms. Go to https://www.prageru.com/ to watch our videos free from censorship!
SUBSCRIBE 👉 https://www.prageru.com/join/
Take PragerU videos with you everywhere you go. Download our free mobile app!
Download iOS: https://itunes.apple.com/us/app/prageru/id1115115779
Download Android: https://play.google.com/store/apps/details?id=com.cappital.prageru
To view the FACTS & SOURCES and Transcript, visit: https://www.prageru.com/video/esg-woke-to-broke
Join PragerU's text list! https://optin.mobiniti.com/prageru
SHOP!
Love PragerU? Visit our store today! https://shop.prageru.com/
Script:
Why do millions of people invest in retirement accounts?
The answer is obvious: to have money to live on when they're no longer working.
The best way for those accounts to grow is to invest in companies that make a profit. Less profit for those companies means less money for retirement.
This might seem like common sense but it's becoming less common, thanks to a new investment strategy called ESG. ESG stands for Environmental, Social, and Governance. If you're wondering what that means, you're not alone.
Generally, it means that a company's first concern should no longer be how much money it makes, but rather how much social good it does. In other words, get woke, or get shamed.
If you're an oil company, for example, you're out of luck because, by the nature of your business, it's assumed you're destroying the planet. Never mind that you're powering homes and hospitals. That doesn't count.
In fact, if you're a company just trying to make a profit, you're the problem.
ESG proponent Klaus Schwab, chairman of the World Economic Forum, puts it this way: "We can't continue with an economic system driven by selfish values, such as short-term profit..."
The message is clear: we need ESG to save us from ourselves.
Really?
The pursuit of profits has fueled many of mankind's greatest innovations and greatest companies.
It led Elon Musk to build electric cars, Andy Grove to design computer chips, and Reed Hastings to develop the world's most popular streaming service.
Everything from aspirin to commercial airplanes, to yes, solar panels and wind turbines came about because of the desire for profit.
Profit is why you have a job, clothes, a house, food, and every other necessity, not to mention luxuries.
It's the reason why you can live in Phoenix and stay cool, or live in Buffalo and stay warm.
The genius of capitalism is that it requires businesses to do good things for society to make a profit.
Think about it:
If you want to start a business—whether it's a dog hotel or a shoe factory—you'll have to create a product or service that helps others—at a price they can afford.
If you want to hire employees, you'll have to offer attractive wages and safe working conditions. Otherwise, nobody will work for you.
If you want customers, not only will you have to make a good product, but you'll need to cultivate a good reputation. That means treating those customers well and offering competitive prices.
In a free enterprise system, you can't make money without providing a social good. Capitalism is, by its very nature, conscientious.
It turns out, then, that profit isn't selfish—it motivates us to contribute our talents to help others.
ESG threatens this system. By denigrating profit, it lessens the incentive and the means to do good. Without profits, companies won't have the capital to provide jobs, pay investors, or fund innovation.
But that's the world ESG wants you to live in: a world where profit takes second place to a preoccupation with income inequality, race and gender sensitivity, and climate alarmism.
But even if you wanted to address those concerns, how would ESG help you do it?
That's a fair question because there's no consensus on ESG standards.
Here's a good example:
Three self-proclaimed ESG watchdogs have given Tesla three completely different ratings: best, worst, and middling.
In capitalism, there is a simple metric to determine success: how much money you're making.
Under ESG, there is no such thing. It's a judgment call.
To make ESG investment strategies even more problematic, according to Meir Statman, professor of finance at Santa Clara University, "in the long run, ESG investors are likely to earn lower after-fee returns than non-ESG investors." Over a period of say, 30 years, those fees alone could cost you hundreds of thousands of dollars.
So, if ESG endangers profits, offers no clear metric for success, and is a mediocre investment, why is it even a "thing?"
For the complete script as well as FACTS & SOURCES, visit https://www.prageru.com/video/esg-woke-to-broke
https://wn.com/Esg_Woke_To_Broke_|_5_Minute_Video
What’s more important for a company: to make a profit, or to do “social good?” More and more companies seem to be focusing on the latter. But is that a good business strategy? And, what does that mean for the economy, for you… and your bank account?
🚨 PragerU is experiencing severe censorship on Big Tech platforms. Go to https://www.prageru.com/ to watch our videos free from censorship!
SUBSCRIBE 👉 https://www.prageru.com/join/
Take PragerU videos with you everywhere you go. Download our free mobile app!
Download iOS: https://itunes.apple.com/us/app/prageru/id1115115779
Download Android: https://play.google.com/store/apps/details?id=com.cappital.prageru
To view the FACTS & SOURCES and Transcript, visit: https://www.prageru.com/video/esg-woke-to-broke
Join PragerU's text list! https://optin.mobiniti.com/prageru
SHOP!
Love PragerU? Visit our store today! https://shop.prageru.com/
Script:
Why do millions of people invest in retirement accounts?
The answer is obvious: to have money to live on when they're no longer working.
The best way for those accounts to grow is to invest in companies that make a profit. Less profit for those companies means less money for retirement.
This might seem like common sense but it's becoming less common, thanks to a new investment strategy called ESG. ESG stands for Environmental, Social, and Governance. If you're wondering what that means, you're not alone.
Generally, it means that a company's first concern should no longer be how much money it makes, but rather how much social good it does. In other words, get woke, or get shamed.
If you're an oil company, for example, you're out of luck because, by the nature of your business, it's assumed you're destroying the planet. Never mind that you're powering homes and hospitals. That doesn't count.
In fact, if you're a company just trying to make a profit, you're the problem.
ESG proponent Klaus Schwab, chairman of the World Economic Forum, puts it this way: "We can't continue with an economic system driven by selfish values, such as short-term profit..."
The message is clear: we need ESG to save us from ourselves.
Really?
The pursuit of profits has fueled many of mankind's greatest innovations and greatest companies.
It led Elon Musk to build electric cars, Andy Grove to design computer chips, and Reed Hastings to develop the world's most popular streaming service.
Everything from aspirin to commercial airplanes, to yes, solar panels and wind turbines came about because of the desire for profit.
Profit is why you have a job, clothes, a house, food, and every other necessity, not to mention luxuries.
It's the reason why you can live in Phoenix and stay cool, or live in Buffalo and stay warm.
The genius of capitalism is that it requires businesses to do good things for society to make a profit.
Think about it:
If you want to start a business—whether it's a dog hotel or a shoe factory—you'll have to create a product or service that helps others—at a price they can afford.
If you want to hire employees, you'll have to offer attractive wages and safe working conditions. Otherwise, nobody will work for you.
If you want customers, not only will you have to make a good product, but you'll need to cultivate a good reputation. That means treating those customers well and offering competitive prices.
In a free enterprise system, you can't make money without providing a social good. Capitalism is, by its very nature, conscientious.
It turns out, then, that profit isn't selfish—it motivates us to contribute our talents to help others.
ESG threatens this system. By denigrating profit, it lessens the incentive and the means to do good. Without profits, companies won't have the capital to provide jobs, pay investors, or fund innovation.
But that's the world ESG wants you to live in: a world where profit takes second place to a preoccupation with income inequality, race and gender sensitivity, and climate alarmism.
But even if you wanted to address those concerns, how would ESG help you do it?
That's a fair question because there's no consensus on ESG standards.
Here's a good example:
Three self-proclaimed ESG watchdogs have given Tesla three completely different ratings: best, worst, and middling.
In capitalism, there is a simple metric to determine success: how much money you're making.
Under ESG, there is no such thing. It's a judgment call.
To make ESG investment strategies even more problematic, according to Meir Statman, professor of finance at Santa Clara University, "in the long run, ESG investors are likely to earn lower after-fee returns than non-ESG investors." Over a period of say, 30 years, those fees alone could cost you hundreds of thousands of dollars.
So, if ESG endangers profits, offers no clear metric for success, and is a mediocre investment, why is it even a "thing?"
For the complete script as well as FACTS & SOURCES, visit https://www.prageru.com/video/esg-woke-to-broke
- published: 18 Oct 2021
- views: 2335797