The ABC, CBS, and NBC evening news networks chose to whitewash news that the world’s second-largest investment firm left a woke “climate alliance” of elitist money managers.
Financial Times reported on Dec. 7 that Vanguard Group departed from the Net Zero Asset Managers (NZAM) initiative, “the main financial alliance on tackling climate change.”
The Times said that Vanguard cited “investor ‘confusion’ amid an increase in criticism from Republicans” as the reason behind the defection. [emphasis, links added]
In November, 13 Republican attorneys general led by Utah Attorney General Sean Reyes “filed a rare motion” asking the Federal Energy Regulatory Commission (FERC) “to prevent” Vanguard from “purchasing shares of publicly listed utility companies due to its particular obsession with environmental, social and governance (ESG) investing.
NZAM members reportedly committed to “achieving net zero carbon emissions by 2050.”
But NBC Nightly News, ABC World News Tonight, and CBS Evening News ignored the story during their Dec. 7, Dec. 8, and Dec. 9 evening broadcasts.
Vanguard allegedly saw that “the alliance’s full-throated commitment to fighting climate change had resulted ‘in confusion about the views of individual investment firms.’”
Leftists wield ESG standards to coerce companies to change corporate policies and align to a more woke ideological structure on issues such as climate change and gender.
Vanguard leaving the NZAM is a clear win for conservatives, so it’s no wonder why the liberal talking heads at the Big Three networks treated the story as if it didn’t even exist.
The GOP attorneys general said in their filing with FERC that “‘Vanguard’s own public commitments and other statements have at the very least created the appearance that Vanguard has breached its promises to the Commission by engaging in environmental activism and using its financial influence to manipulate the activities of the utility companies in its portfolio.’”
It looks as if Vanguard is now trying to backpedal its climate nuttiness.
NZAM, which reportedly houses “291 members managing $66tn in assets as of November,” includes other major ESG-obsessed asset managers like BlackRock, State Street, and JPMorgan Asset Management.
ESG opponent and Strive Asset Management co-founder Vivek Ramaswamy emphasized the threat of ESGs that Vanguard championed:
If you’re an everyday citizen, you might be at risk of losing your job or putting food on the dinner table if you don’t bend the knee to that new orthodoxy. That’s where you get to this place where we can’t even talk about these issues in the open because you have an economic sword that’s ultimately hanging over your head if you defect from the main orthodoxy.
See MRC Business’s explainer on how ESGs present a major threat to America’s culture, business, and overall economy.
The net-zero climate virtue signaling by leftists in government, media, and corporate America is a complete farce, according to Hoover Institution visiting fellow Bjorn Lomborg.
“The world is waking up to the fact that the climate policy goal of achieving ‘net-zero’ CO2 emissions brings crippling economic pain,” Lomborg wrote in an Oct. 6 op-ed in Canada’s National Post.
“Fossil fuel prices shot up by 26 percent across industrialized economies last year and will rise globally by another 50 percent this year. Politicians blame Russia’s invasion of Ukraine, but the long-term trend stems mostly from governments demonizing fossil fuels while their societies remain dependent on them.”
Read rest at NewsBusters
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The Woke world remains completely ignorant that life on earth is carbon-based. That “the living environment” is entirely composed of little carbon sacks of water we call cells. That the most abundant element in life on earth is oxygen (65%) – the oxygen contained in cellular and intercellular water. The second most abundant is carbon (18.5%). The long chain carbon compounds whose molecules form the living structures of life itself. And whose sunlight powered high energy molecular bonds provide the energy that make us the best fed, longest living, most prosperous human beings that have ever existed. Because those high energy bonds provide the energy present in the form of coal, oil, and gas. They come from life. And when we consume them, they recycle the two foundational molecular ingredients of life – CO2 and H2O – hardly pollution. In fact, fossil fuels are our only green energy. That is the century old science of biology. The science the “woke” can’t be bothered to learn. A planet without CO2 is a dead planet.
The Vanguard Group’s departed NZAM is probably the first of many. Note that as usual the mainstream media is ignoring any news that doesn’t support the climate change movement.
“Net Zero” = Back to the Cave