Liberal billionaire George Soros is throwing wads of cash at a climate plan to control the business world through woke environmental, social, and governance standards.
Bloomberg News tried to take the heat off of Soros’s green extremism in an April 26 article headlined, “Soros Fund’s Climate Plan Shows Messiness of Financed Emissions.” [bold, links added]
But an MRC Business search into Soros Fund Management (SFM) revealed a “Climate Action Strategy” (CAS) and an ambitious plan to eliminate fossil fuel production through the use of environmental, social, and governance (ESG) standards. SFM’s March 22 CAS report claimed,
“We strongly believe that global climate action will make most fossil fuel production unpopular and unprofitable over the long-term, while fundamentally reshaping the business models of companies and projects across a wide range of carbon-intensive sectors.” [Emphasis added].
Utah Treasurer Marlo Oaks (R-U.T.) outlined the dangers of major funds like SFM pushing ESG standards in an exclusive interview with MRC Business, edited for clarity:
“These are obviously special interests that are not in the interest of any American. I don’t care what political party you are. If you care about the United States, if you care about our form of government, if you care about free markets, [and] maybe you don’t believe in capitalism, but even then” this sort of ESG investing “will lead to the undermining of our national security” and “inflation.”
SFM also promised to end “all investments in new fossil fuel companies by no later than 2025,” accelerate the climate transition, and reach net-zero emissions by 2040.
And those words carry some weight, considering that SFM controls a whopping $28 billion in funds mainly on behalf of the radical leftist group Open Society Foundations, according to Bloomberg News.
SFM seems to view itself as a leader in the charge to remake the economy through radical climate policies.
“SFM can be a powerful force to help drive the transition to a low-carbon, climate-resilient global economy,” it lauded. Sounds like Soros is fulfilling his leftist goal to “bend the arc of history” in “the right direction” by exploiting ESGs.
The reasoning behind SFM’s radical climate plan was engineered around woke eco-extremist politics:
“As prudent investors, we integrate environmental, social, and governance (ESG) factors to capitalize on benefits and manage risk.”
Political commentators like Blaze Media CEO Glenn Beck and business leaders like former McDonald’s CEO Edward Rensi, however, have railed against ESG ratings as tyrannical.
Tesla CEO Elon Musk even called ESG standards “the Devil Incarnate” on Twitter.
The SFM CAS report also made aggressive predictions about a green future.
“SFM recognizes that achieving a net-zero emissions global economy by mid-century is incompatible with nearly all ongoing fossil fuel production (supply) and consumption (demand)” [emphasis added].
Read more at NewsBusters
Basically, this is a high wire act without a net. Fossil fuels provide 80% of the world’s primary energy and looking at IEA & EIA energy outlooks, it would appear the best guess is they will STILL have the lions share of energy consumption in 2050. “Choking off” financial capital & investment incentives to globally essential commodities (oil, gas & coal) through ESG is one of the DUMBEST ideas ever. Folks need to WAKE UP before these zealots collapse our entire energy system…
Soros and this fellow Globalists/One world Government types are bigger threat to America and its People then the terrorists
Why is Gyorgy Schwantz
still permitted to be alive ?