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ESG is fairly obviously used to whitewash companies whose main product goes against ESG principles. It's a bunch of irrelevant window-dressing compared to the
by justrealist 3y ago
ESG is fairly obviously used to whitewash companies whose main product goes against ESG principles. It's a bunch of irrelevant window-dressing compared to the core concern of what a company is selling yet somehow that never makes it into the ESG metric.
Ex, Tesla has a terrible ESG scores, and Philip Morris has great ones. Is that because PM's diverse board actually outweighs giving people cancer? No, it's just that ESG was designed explicitly to allow companies to hand-wave away the core issue that they are selling bad things.
- Zigurd 3y agoIt could be "a bunch of,,, window-dressing compared to the core concern of what a company is selling yet somehow that never makes it into the ESG metric." That, however, is the easy part. It's obvious BP is Big Oil. Or that cigarette companies sell poison. Or that gun makers' lobbyists have made the US a needlessly dangerous place. A gun made out of recycled materials is still, obviously, a gun. An ESG score just tells you whether they aren't racist sexist scum, too.
- epicureanideal 3y ago> An ESG score just tells you whether they aren't racist sexist scum, too. Or that the direction of their sexism and racism goes in the scorer’s approved direction.
- zarathustreal 3y ago100% this. Also, before we could even begin to score -isms we'd have to give them a concrete definition and that would obviate the need for a third-party to score them.
- zarathustreal 3y agoIf you think ESG scoring indicates anything about the culture of a company I've got a bridge to sell you
- jquery 3y agoWell, they nailed the fact that Tesla is hell to work for, I'll give them that.