The anti-"woke investing" movement was not created by financial experts. It was created by two of the fossil fuel industry's most notorious climate disinformers.
On some level, this is just the climate denial movement coopting progressive tactics--like economic boycotts--for their own pro-fossil-fuel agenda. We divest from fossil fuels and corporate exploiters (and invest in future-thinking companies), they boycott and divest from ESG corporations. May the ones on the right side of history win. I think we who see the truth of climate change are confident that the "bottom line" will come out on our side, sooner rather than later. And the deniers' investments in fossil fuels will tank as we pass the tipping point of climate ruin.
The real danger is that their efforts to buoy the carbon spewers only further delays the drastic cuts in carbon we needed yesterday and need NOW.
I for one will cry no tears when their anti-ESG investments plummet, but unfortunately global heating will overtake us all, not just them.
You must keep a puke pail next to your computer, Emily. My gawd, I never know whether to laugh uncontrollably, weep into my soup, or just throw up. How can "the rich" be so oblivious to what it is that creates their wealth — let alone what keeps them alive. Blech.
Great article, and yeah the anti-ESG movement is complete idiocy at face value when divesting from fossil fuels IS a smart investing strategy. Which is why you are right that it is just climate denial and not actually about investing strategies.
Maybe you read this article from Robinson Meyer about the IRA, and it is more optimistic than I personally am, but it makes a great point in a similar vein.
"The Credit Suisse report is truly remarkable. What stuck with me most was this declaration: For big corporations, the IRA “definitively changes the narrative from risk mitigation to opportunity capture.” In other words, companies should no longer worry that they might be unprepared for future climate regulation, such as a carbon tax. They should be scared of missing out on the economic growth that the energy transition (and the IRA) will bring about."
Musk is so irritating. Haha Tesla is a great thing for the climate, but then there's everything else he does and says that just inflames things so badly!
Happy birthday Emily! This is another great article, and I shared it, but the image you chose conflates Elon Musk with the anti-ESG movement. Musk is obviously a conflicted character, especially if you take the subset of his most controversial tweets. He is also the human who has individually had the greatest positive effect on limiting climate heating to date. I don't like many of his tweets either, but have reservations distorting his record on my social media.
Happy birthday! I’d love to share. Can non-subscribers read it?
Happy birthday, Emily! Enjoy your whole birthday weekend.
Happy birthday! BPE!!!!
Happy Birthday Emily!
Happy birthday!!
The Law of Physics takes no sides. Happy Birthday, Emily.
Yes, happy 33rd Emily!
On some level, this is just the climate denial movement coopting progressive tactics--like economic boycotts--for their own pro-fossil-fuel agenda. We divest from fossil fuels and corporate exploiters (and invest in future-thinking companies), they boycott and divest from ESG corporations. May the ones on the right side of history win. I think we who see the truth of climate change are confident that the "bottom line" will come out on our side, sooner rather than later. And the deniers' investments in fossil fuels will tank as we pass the tipping point of climate ruin.
The real danger is that their efforts to buoy the carbon spewers only further delays the drastic cuts in carbon we needed yesterday and need NOW.
I for one will cry no tears when their anti-ESG investments plummet, but unfortunately global heating will overtake us all, not just them.
ESG is a mess and should be withdrawn and I talk about it in my new book at www.nigelsouthwayauthor.com
You must keep a puke pail next to your computer, Emily. My gawd, I never know whether to laugh uncontrollably, weep into my soup, or just throw up. How can "the rich" be so oblivious to what it is that creates their wealth — let alone what keeps them alive. Blech.
Happy late birthday!
Great article, and yeah the anti-ESG movement is complete idiocy at face value when divesting from fossil fuels IS a smart investing strategy. Which is why you are right that it is just climate denial and not actually about investing strategies.
Maybe you read this article from Robinson Meyer about the IRA, and it is more optimistic than I personally am, but it makes a great point in a similar vein.
"The Credit Suisse report is truly remarkable. What stuck with me most was this declaration: For big corporations, the IRA “definitively changes the narrative from risk mitigation to opportunity capture.” In other words, companies should no longer worry that they might be unprepared for future climate regulation, such as a carbon tax. They should be scared of missing out on the economic growth that the energy transition (and the IRA) will bring about."
https://www.theatlantic.com/science/archive/2022/10/inflation-reduction-act-climate-economy/671659/
¡Feliz cumpleaños, Emily!
So good to have your words back in our inboxes!!
Musk is so irritating. Haha Tesla is a great thing for the climate, but then there's everything else he does and says that just inflames things so badly!
Happy birthday Emily! This is another great article, and I shared it, but the image you chose conflates Elon Musk with the anti-ESG movement. Musk is obviously a conflicted character, especially if you take the subset of his most controversial tweets. He is also the human who has individually had the greatest positive effect on limiting climate heating to date. I don't like many of his tweets either, but have reservations distorting his record on my social media.