Environmental, Social, and Governance Scam
The most popular holdings of virtue signaling ESG funds are companies such as.... Microsoft, Alphabet, Apple and Amazon, which one would be hard pressed to explain how their actions do anything that is of benefit for the environment. Among the other most popular ESG companies are consulting company Accenture , Procter & Gamble, and... drumroll, JPMorgan. The fact that the latest virtue-signaling investing farce is nothing more than the pure hypocrisy of Wall Street and America's most valuable corporations, who have all risen above the $1 trillion market cap because they found a brilliant hook with which to attract the world's most gullible, bleeding-heart liberals and frankly everybody else into believing they are fixing the world by investing in "ESG" when instead they are just making Jeff Bezos and Jamie Dimon richer beyond their dreams. Wall Street is greenwashing the financial world, making sustainable investing merely PR, which is a distraction from the problem of climate change. The financial services industry is duping the American public with its pro-environment, sustainable investing practices. This multitrillion dollar arena of socially conscious investing is being presented as something it's not. In truth, sustainable investing boils down to little more than marketing hype, PR spin and disingenuous promises from the investment community. As disheartening as this reality is, claiming to be environmentally responsible is profitable. Last year alone, ESG mutual funds and exchange-traded funds nearly doubled. The investment community understandably reacted to this with cheers. But those cheers were only for fund managers and their bottom lines. No matter what they tout as green investing, portfolio managers are legally bound (as well as financially incentivized) to do nothing that compromises profits. To advance real change in the environment simply doesn't yield the same returns. The financial services industry is duping the American public with pro-environment, sustainable investing practices. There is no evidence ESG investing has any social impact.
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