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ESG scores

Back in 2007, to get funding from a world-bank integrated lender to build a mine in a foreign country required a company to comply with the 'Equator Principles'. These were based on existing environmental and social policy frameworks established by the International Finance Corporation. At a summary level, they were meant to ensure that corporations were following a standard code of conduct when building projects in foreign countries.

At the time, the company I was working for was building a gold mine in Turkey, and there really weren't many environmental or social policies in place in the country. Outside of ensuring that our environmental policies and reclamation practices/estimates were in line with 'international standards', I think the biggest issue we ran into was that we need to treat all the landowners on the same footing when purchasing their land. We couldn't offer the sheepherder $1,000/hectare for his land if the business-savvy landowner next door got $5,000/hectare. I'm sure there were other things at the time, but I've tried to purge some of those years from my memory.

Flash forward to today, and the ESG principles are much more in-depth, and they now appear to apply to just about all projects that could be funded by banks, whether in a 'developed nation' or a developing nation. There are 10 Principles that are part of the evaluation

1. Review and Categorization6. Grievance Mechanism
2. Environmental and Social Assessment7. Independent Review
3. Applicable Environmental and Social Standards8. Covenants
4. Environmental and Social Management System9. Independent Monitoring and Reporting
5. Stakeholder Engagement10. Reporting and Transparency

As expected, there are a ton of subtopics that may or may not need to be addressed. For a example, a company might have to address the following risks, among others, under social impacts.
Labor and Working Conditions
Use of recruiting or labor contracting agencies (54)
Gender composition of workforce (41)
Differences in nationalities / ethnicities (41)
Use of production quota-based pay systems (41)
Presence of worker representatives (41)

It takes a lot of work to go through an initial evaluation of all of the Principles and sub-risks, adding a lot of time and money to the process of securing a loan before advancing to the construction phase.
 
www.dailywire.com

Elon Musk Condemns Rising Woke Trend In Corporate America

Tesla and SpaceX CEO Elon Musk condemned “ESG” standards — a growing trend in corporate America to make businesses more “socially conscious.” Environmental, Social, and Governance (ESG) criteria are “a set of standards for a company’s operations that socially conscious investors use to screen...
www.dailywire.com www.dailywire.com
 
We've regeared the way we do business (large NG transmission company) now to entertain the ESG crowd. Publish yearly reports, recently launched a new energy ventures group, etc. All in the name of "looking good on paper" to investors and banks. Pretty much the cost of doing business anymore to prevent activist investors from trying to take over companies.
 
j20brett said:
We've regeared the way we do business (large NG transmission company) now to entertain the ESG crowd. Publish yearly reports, recently launched a new energy ventures group, etc. All in the name of "looking good on paper" to investors and banks. Pretty much the cost of doing business anymore to prevent activist investors from trying to take over companies.
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Just a form of taxation like SOX, et al. Increase cost of maintaining government permission to engage in commerce.
 
The other day an ad from a company showed up on facebook, bragging about the wonders of ESG.

About 95% of the comments were brutal (well beyond negative), with just a few defending ESG policies.

Does this mean that only the 0.5% of the population who know and care about these things are commenting, or are regular people starting to understand what's happening in the increasingly woke corporate world?
 
Mikel said:
The other day an ad from a company showed up on facebook, bragging about the wonders of ESG.

About 95% of the comments were brutal (well beyond negative), with just a few defending ESG policies.

Does this mean that only the 0.5% of the population who know and care about these things are commenting, or are regular people starting to understand what's happening in the increasingly woke corporate world?
Click to expand...
Targeted advertising means only people who comment will see it, so controversial is important.

Used to get all kinds of communist bullshit advertisements because I'd comment on them
 
Mikel said:
The other day an ad from a company showed up on facebook, bragging about the wonders of ESG.

About 95% of the comments were brutal (well beyond negative), with just a few defending ESG policies.

Does this mean that only the 0.5% of the population who know and care about these things are commenting, or are regular people starting to understand what's happening in the increasingly woke corporate world?
Click to expand...

It means Fakebook is curating comments/ads to what they think you will react to. Turn off all of the ad personalization options and block as many companies as possible from interacting with you.

As far as ESG it's interesting what it is doing to the O&G sector. Every company except CRI seems to be taking a whatever we aren't doing anything special this year because we won't be rewarded for it. CRI is actually being punished for investing heavily this year.
 
speed bump said:
It means Fakebook is curating comments/ads to what they think you will react to. Turn off all of the ad personalization options and block as many companies as possible from interacting with you.

As far as ESG it's interesting what it is doing to the O&G sector. Every company except CRI seems to be taking a whatever we aren't doing anything special this year because we won't be rewarded for it. CRI is actually being punished for investing heavily this year.
Click to expand...

Rather disappointing. So it's just the few crazy people who care about these things who are targeted.
 
Related to the above...

West Virginia Senate Passes Anti-Fossil Fuel Boycott Bill

CHARLESTON — Days after expressing their support for nuclear energy, members of the West Virginia Senate expressed support Thursday for a bill standing up against banks that boycott doing business with the coal and natural gas industries. The Senate passed Senate Bill 262 on Thursday morning...
www.theintelligencer.net www.theintelligencer.net

I'm not sure how I feel about this. As much as it is satisfying to see red states hammer these woke corporations, I'm very unconfortable with the idea of government interfering with private enterprise. Similar measures have been passed to penalize banks that deny services to gun companies.
 
I liked the part where they theorized that the climate agenda was a Russian trick to weaken the other countries :laughing:
 
[486] said:
could see chinese, too
that'd be funny
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Yep, no tinfoil required - we (CIA) fucked with other countries incessantly and they did it to us. Likely still happening.

Mikel said:
During the cold war, the Soviet Union financed the anti war and green movements in the US. You can't argue they weren't successful.
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After the cold war, the player names may have changed but old habits die hard.
You don't knock off fuckery if it's successful, entertaining, and without consequences.

Provience said:
It's obviously a vehicle for communism and division, just look at how the solutions are entirely wealth redistribution and fear messaging
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It chaps my ass that a lot of the anti-freedom fuckery has been "privatized" (George Soros, Klaus Schwab, WEF disciples). Our public officials are the tools of such fuckery, but it seems the puppeteers are independent of national ties. Probably always have been, but the curtain shrouding them has been wearing thin in the information age.

Globalists and their socialist / communist agenda are the biggest cancer growing on the organism that is freedom and equality. True irony = the purple-haired pronoun crowd is getting to a McCarty level of witch hunting, convicting normies of (excessive normality?) in the courts of public opinion.

The fucked up thing is that shouts for tolerance and equality that were heeded and realized no longer resound from the groups that benefitted from said tolerance and equality. Now, given a baseline of tolerance and equality, they're pushing to receive . . . (reverence and superiority?) :confused:. Mu'fugger, you're striving to be the monster against which you once fought :shaking:

That^ is why I suspect the "beyond equality" push is funded, manipulated, and encouraged by groups that wish to weaken us. If we were still focused on tolerance and equality, petty bullshit infighting would be greatly reduced and cross-interest groups would collectively focus on the statists and globalists looking to disempower us, and we might work together to push against those actual valid (mo)foes.

Remember: on this day to celebrate our INdependence :usa:, our greatest enemies are those who encourage dependence :flipoff:.

FJB, F the WEF, and happy independence day!

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