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ESG is a "good in theory, horrible in practice" sort of thing. In theory, we want to make it easier to invest in businesses that are sustainably aligned. This
by vorpalhex 4y ago
ESG is a "good in theory, horrible in practice" sort of thing.
In theory, we want to make it easier to invest in businesses that are sustainably aligned. This is great! We all like our planet, we want our planet to be good and to aide those people who align with that goal while also building good products.
In practice, ESG is a bunch of removed bureaucrats casting laws that result in prohibiting the free movement of people (https://www.oxfordshire.gov.uk/residents/roads-and-transport/connecting-oxfordshire/traffic-filters https://www.oxfordshire.gov.uk/residents/roads-and-transport...) or removing the farms (and income) of farmers (https://www.bbc.com/news/world-europe-62335287 https://www.bbc.com/news/world-europe-62335287).
- matthewmacleod 4y agoIt’s an unreasonable stretch—to the extent of dishonesty—to describe the implementation of “streets where private cars are not allowed” as “prohibiting the free movement of people”. It also has exactly nothing to do with corporate ESG, the subject of this article.
- vorpalhex 4y agoThe filter gates are part of an environmental effort tied into the WEF's ESG concept, the same ESG concept BoA is responding to. These are not trivial little sidestreets that are being closed to cars. These are major routes and thoroughfares. Nor is this a tax or fine (encouraging the use of buses), this is a hard limit with license plate scanning as enforcement. People use their cars to be able to go places and do things. Restricting, meaningfully, the movement of cars is a restriction on freedom of movement. Trains and buses are great and we should encourage people to use them but we don't do that by locking people in with gates.