Vanguard Quits Climate Alliance In Major Blow To Woke Investing

Sick little Friday night you got lined up here, Rickles.

 

It's from ZeroHedge, so I'd need to see a real source ...

 

interesting. Repubs targeting anti pollution groups.

“One week after 13 Republican state attorneys general asked federal energy officials to consider blocking Vanguard Group from buying utility stocks because of its relationships with anti-coal and anti-natural gas activists, the Malvern-based investment giant has pulled out of an international group committed to reducing net greenhouse gas emissions to zero by 2050.”


Vanguard quits clean energy group after 13 states complain

 

There is also an article on Reuters.

Still pretty nonsensical way of presenting this. WTF does climate investment have to do with “woke”, which I thought had to do with racial justice? They are basically just calling everything “woke” now. Lol.

This was apparently a program Vanguard had entered in 2021. But they still have funds with social consciousness on mind. They’ve had FTSE funds forever and I’m sure those will carry on. Had never heard of NZAM. Not clear whether Vanguard is ending their own climate /zero carbon specific funds or just the affiliation with this NZAM group (I think it’s the latter). Seems like Republicans are really attacking those climate funds hard. Weird how much Republicans hate free market choice. Pretty weak of Vanguard to cave to that nonsense IMO.

 

Which do you think is more important, Rick;making money or saving the planet?

 

You got a plan for both? I got another 40 yrs at best. Would love to see a plan that saves the earth before I go.

 

I think a certain group has an obsession with using the word "woke"

 

Rest easy the Earth will still be here long after we are gone.

 

ESG is a soft form of what China is doing with their social credit system except it is a social credit system for businesses. The E is the environmental part. The S is the woke part. The idea is if you get the right people in power, then government contracts can be handed out in a way that discriminates based on ESG scores. Only companies that are subservient to certain political agendas will have the high ESG scores to get government contracts. Banks can determine interest rates for businesses on the basis of ESG scores. Banks can also decide which companies they will and will not invest in on that basis as well.

Awarding "good" behavior is another way of punishing "bad" behavior. It is a power play for social revolutionaries to enforce conformity to their agenda, but it bypasses the government to it.

This is what happens when Marxist leaning ideologues figure out they can take control of capitalist institutions and use them to further their own agenda. It does come at a cost, though, and it looks like we might be seeing a correction. Companies are made to profit, not pursue political agendas.

 

I assume that you’re being sarcastic, but thing’s almost certainly will be a lot worse in 40 years. A good part of the west might be uninhabitable from fires and water shortages. Current sea level areas might be underwater. Average temperatures might be a couple of degrees higher. Hurricanes and tornadoes might be more intense. We might see another pandemic or 2. Will Muschamp might return to coach the Gator football team. Enjoy it while you got it.

 

You mean that growing majority of people who are tired of their bullshit?

 

It really isn’t. In this case, it’s simply creating an index of funds and offering investors another choice amongst 100’s of funds. If some want to exclude co’s that sell tobacco, gambling, adult entertainment, use child labor, energy, or… whatever, that choice should be available. As I said, the FTSE ESG index has been around for decades now and its performance is similar to the broader indexes over the long term (supposedly this was a bad year, as they missed on the “benefits” of the stocks that get a boost from Ukraine war).

What you have here is 13 Republican AG’s telling the public they CANNOT invest along those lines (or at least that indexes cannot be created), that *all* indexes MUST include those vice and energy stocks or can’t be scored to exclude them. I don’t know about you, but a bunch of government officials (13 Republican AG’s) telling private companies they MUST invest in certain ways sounds alot more commie then private company’s simply offering the choice of either ESG investing or in this case something more targeted at zero carbon.

 

Climate investment is about saving the planet Earth, and do you want to guess which planet most black live on? Earth! You got to be pretty naive if you think that’s just a coincidence, Bling.

 

Is this the same thing as the silent majority?

 

Yes the customers don't want their money invested in certain types of companies, however the base is obsessed with the word woke. As a result you can expect the GOP to target anything or company they seem as woke for the next 2 - 4 years or until another theme comes along

 

You got my attention at #2

 

No, the people who prefer to live in ignorance and denial.