Morning Wire ESG & Woke Capitalism | 4.10.22
Apr 10, 2022
Megan Basham, a culture reporter for the Daily Wire, dives into the complexities of ESG and stakeholder capitalism. She explains how major corporations like Disney and Apple are shifting towards political activism and the motivations behind this trend. Basham critiques the biases in ESG scoring systems and discusses the growing influence of activist investment firms on corporate governance. The conversation also examines how this trend often conflicts with shareholder interests, sparking backlash from investors seeking traditional profit-driven strategies.
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ESG's Influence
- Activist employees are not fully responsible for companies' political stances.
- Activist investment firms and ESG investing play a significant role.
ESG Explained
- ESG (Environmental, Social, and Governance) acts as a social credit score for businesses.
- It considers factors like carbon emissions, diversity, and political donations.
ESG Pervasiveness
- ESG scoring is pervasive in the financial system, influencing investment decisions.
- Large fund managers like BlackRock and proxy services like ISS play key roles but present conflicts of interest.