On this week's podcast interview Paul talks to Chris Talgo, Senior Editor at the free market Heartland Institute. The main topic addressed is "ESG." ESG stands for "Environmental Social and Governance" which are social credit scores assigned to corporations, supposedly for their corporate behavior in relevant areas. Not surprisingly, ESG is yet another tool for opponents of traditional sources of energy and even free speech to attack their opponents.
Talgo and Gessing go into detail about ESG and also discuss how the Biden Administration is using ESG and other tools to kill American energy.
What Is ESG:
To replace shareholder capitalism, Schwab, Fink, Biden, and a legion of their peers have promulgated a nouveau “stakeholder doctrine,” commonly referred to as “stakeholder capitalism.” This approach, which aims to harness the growing clamor for more socially conscious corporate decision-making, authorizes, incentivizes, and even coerces corporate executives and directors to work on behalf of social objectives deemed by elites to be desirable for all corporate stakeholders—including communities, workers, executives, and suppliers.
Environmental, social, and governance (ESG) scores—a social credit framework for sustainability reporting—are being used as the primary mechanism to achieve the shift to a stakeholder model. They measure both financial and non-financial impacts of investments and companies and serve to formally institutionalize corporate social responsibility in global economic infrastructure.
Environment, social, and governance scores are theoretically supposed to incentivize “responsible investing” by “screening out” companies that do not possess high ESG scores while favorably rating those companies and funds that make positive contributions to ESG’s three overarching categories. A company’s ESG score has become a primary component of its risk profile.
Who Is The Heartland Institute:
We are an “action tank” as well as a “think tank,” and we measure our success by the impact we have in the real world. The Heartland Institute plays an essential role in the national (and increasingly in the international) movement for personal liberty and limited government. We are the pipeline between the freedom movement’s leading writers and thinkers and the nation’s 8,400 national and state elected officials.
Because we are effective, we have been the subject of unfair criticism and even libel by various liberal advocacy groups, elected officials, and even Wikipedia. Please see the “Reply to Our Critics” page where we answer our critics and set the record straight. We hope you will defend us, when you can, in the comments fields of websites that defame us and in conversations with friends and colleagues.
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