3 ms·

I would love to go deeper into the rabbit hole here. What is MIA in the Sri Lanka discussion is the underlying reasons for the situation. It seems one of them

I would love to go deeper into the rabbit hole here. What is MIA in the Sri Lanka discussion is the underlying reasons for the situation. It seems one of them was misguided govt policy, in that they banned common fertilizers in favor of ESG-friendly fertilizer. It seems said fertilizer collapsed output, which meant less exports, less hard currency to import (late on the game) regular fertilizer. I still sont know why ESG was favored. I also dont know what was the upside for sri Lanka to do this.

ncmncm 4y ago
"ESG is an acronym for Environmental, Social, and Governance. ESG takes the holistic view that sustainability extends beyond just environmental issues." Nothing so sophisticated. No money left for fertilizer, no fertilizer. Dressing it up as "ESG" or "organic" amounts to blame-shifting.
no_butterscotch 4y ago
Right! And Sri Lanka was one of the top ranked countries in the world according to ESG score. They wanted to appeal to Blackrock and their insane ESG rating.