Fri Jun 30, 2023 – 4:54 pm EDTFri Jun 30, 2023 – 4:56 pm EDT
(LifeSiteNews) — The head of BlackRock, the largest investment firm in the world, Larry Fink, has said the term “ESG” has become “weaponized,” forcing him to distance himself from the brand.
“I’m not going to use the word ESG because it’s been misused by the far left and the far right,” Fink said at the Aspen Ideas Festival on June 25, as Axios reported.
What is ESG?
According to Investopedia, ESG is “a set of standards for a company’s behavior used by socially conscious investors to screen potential investments.”
The acronym stands for
Environmental Social Governance
In effect, it is a means of transforming investment strategies to privilege companies which implement and promote radical changes including “Net Zero” initiatives and the promotion of employees for reasons other than competence.
As Investopedia explains:
Environmental, social, and governance (ESG) investing is used to screen investments based on corporate policies and to encourage companies to act responsibly.
Many mutual funds, brokerage firms, and robo-advisors now offer investment products that employ ESG principles.
Or as Breitbart states:
Would you invest in a company that doesn’t display the
The remainder of this article is available in its entirety at LifeSite News
The views expressed in this news alert by the author do not directly represent that of The Official Street Preachers or its editors