10 ms·

This is why I oppose ESG. It’s being pushed by the financial institutions under the guise of sustainability. But now you have many things unrelated to climate t

This is why I oppose ESG. It’s being pushed by the financial institutions under the guise of sustainability. But now you have many things unrelated to climate that have been show-horned in. It’s fine to create regulation that’s voted upon, it’s not okay to use financial firms to push moral or societal change in collusion with governments.

throwayyy479087 4y ago
[flagged]
- chpatrick 4y ago
  Nestle is also at the top of most ESG indices.
- baidifnaoxi 4y ago
  Wow. Yeah. It’s not just moral or societal, I guess. It’s also is influenced by $$$$
- notlukesky 4y ago
  Why is this being downvoted if the fact is true? There are so many other high ESG scores like SVB and FTX and even countries like Sri Lanka (went bankrupt as well) that it has become an indicator like Jim Cramer. Every rating system will be gamed if there are incentives for it and be turned into a farce. Just like bombing countries to the stone ages for “human rights”, “liberation” and “democracy”. All code words for genocide and massacres. The British Empire, a “democracy”, used to invade countries for slave trading. Then when slavery was made illegal it then invaded countries under the guise of stopping slavery!
  - Rexxar 4y ago
    Because he can't make the difference between a consumer product company and a tobacco company ?
  - itsdrewmiller 4y ago
    Because it isn't true - Reynolds Consumer Products is not the same company as RJ Reynolds. (They were apparently founded by relatives though!)
    - schiffern 4y ago
      The tobacco company parent also has a high ESG rating. https://news.ycombinator.com/item?id=35274139 https://news.ycombinator.com/item?id=35274139
  - deleted 4y ago
    [deleted]
- Rexxar 4y ago
  Can you give some context why do you thing that a company that sell aluminium foil and storage bags is fundamentally bad ?
  - leguminous 4y ago
    RJ Reynolds is a tobacco company. EDIT: Never mind. I see that the previous poster had confused the two and linked to the consumer products company, not the tobacco company.
    - schiffern 4y ago
      The link was wrong, but the fact is right. The tobacco company parent also has a high ESG rating. https://news.ycombinator.com/item?id=35274139 https://news.ycombinator.com/item?id=35274139
  - deleted 4y ago
    [deleted]
- schiffern 4y ago
  That's the foil company, not the tobacco company. This is probably the link you meant to post: "Reynolds American parent BAT named third-highest rated ESG performer in global ranking" https://www.prnewswire.com/news-releases/reynolds-american-parent-bat-named-third-highest-rated-esg-performer-in-global-ranking-301255055.html https://www.prnewswire.com/news-releases/reynolds-american-p...
atkailash 4y ago
[dead]
JumpCrisscross 4y ago
ESG as a concept is fucked. Creating a scale for each of E, S or G is challenging. Adding a mixing methodology on top is insane. How many tonnes of carbon is a separate CEO/chairmanship worth? Is child labor four or five times worse than super-voting stock?

throwayyy479087 4y ago

[flagged]

chpatrick 4y ago
Nestle is also at the top of most ESG indices.
baidifnaoxi 4y ago
Wow. Yeah. It’s not just moral or societal, I guess. It’s also is influenced by $$$$
notlukesky 4y ago
Why is this being downvoted if the fact is true? There are so many other high ESG scores like SVB and FTX and even countries like Sri Lanka (went bankrupt as well) that it has become an indicator like Jim Cramer. Every rating system will be gamed if there are incentives for it and be turned into a farce. Just like bombing countries to the stone ages for “human rights”, “liberation” and “democracy”. All code words for genocide and massacres. The British Empire, a “democracy”, used to invade countries for slave trading. Then when slavery was made illegal it then invaded countries under the guise of stopping slavery!
- Rexxar 4y ago
  Because he can't make the difference between a consumer product company and a tobacco company ?
- itsdrewmiller 4y ago
  Because it isn't true - Reynolds Consumer Products is not the same company as RJ Reynolds. (They were apparently founded by relatives though!)
  - schiffern 4y ago
    The tobacco company parent also has a high ESG rating. https://news.ycombinator.com/item?id=35274139 https://news.ycombinator.com/item?id=35274139
- deleted 4y ago
  [deleted]
Rexxar 4y ago
Can you give some context why do you thing that a company that sell aluminium foil and storage bags is fundamentally bad ?
- leguminous 4y ago
  RJ Reynolds is a tobacco company. EDIT: Never mind. I see that the previous poster had confused the two and linked to the consumer products company, not the tobacco company.
  - schiffern 4y ago
    The link was wrong, but the fact is right. The tobacco company parent also has a high ESG rating. https://news.ycombinator.com/item?id=35274139 https://news.ycombinator.com/item?id=35274139
- deleted 4y ago
  [deleted]
schiffern 4y ago
That's the foil company, not the tobacco company. This is probably the link you meant to post: "Reynolds American parent BAT named third-highest rated ESG performer in global ranking" https://www.prnewswire.com/news-releases/reynolds-american-parent-bat-named-third-highest-rated-esg-performer-in-global-ranking-301255055.html https://www.prnewswire.com/news-releases/reynolds-american-p...

atkailash 4y ago

[dead]

JumpCrisscross 4y ago

ESG as a concept is fucked. Creating a scale for each of E, S or G is challenging. Adding a mixing methodology on top is insane. How many tonnes of carbon is a separate CEO/chairmanship worth? Is child labor four or five times worse than super-voting stock?