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IPFS News Link • World Economic Forum

'ESG,' the Threat to Liberty You Haven't Heard Of

• https://libertarianinstitute.org, by Tommy Salmons

But in the shadows, slipping in under the veil of a potentially deadly pandemic, another threat loomed. This threat, known as ESG, was not airborne or viral in the traditional sense. This threat was birthed in the imaginations of banks, corporations, and governments, and much like COVID, this threat is going to alter the life of millions of people worldwide.

ESG is an acronym that stands for Environmental, Social (Justice), and (Corporate) Governance. The goal of ESG, as World Economic Forum founder Klaus Schwab stated in Shaping the Future of the Fourth Industrial Revolution, is to utilize investors to move corporations into a more socially progressive direction; moving technologies and businesses away from the current models of doing business to a new stakeholder method of business.

"Entrepreneurs and Investors are the vanguard when it comes to marrying a values-based approach to technological development…It makes sense that thinking about broader social impact at this stage would have significant cascading effects. Investors, on the other hand, have the carrot with which to direct the development of technologies…The values of entrepreneurs and organizational leaders have a tremendous influence on the workplace and how technologies are developed. Leading from the front can transform company culture and prioritize societal values."

When Coca-Cola, Gillette, Disney, BP, and other multinational corporations act counter to good business practices to advance a political agenda antithetical to the beliefs of most of their consumer base it is an effort to improve the new value-based credit score known as ESG. As corporations respond to investors and the credit score used to determine societal value, they push agendas intended to move the Overton Window and cultural acceptance towards a more progressive agenda.


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