3 ms·
> > The political backlash against ESG scores is so misplaced. Rating agencies should rate the financial risk of stuff (mostly bonds they should try and do it
by JumpinJack_Cash 3y ago
> > The political backlash against ESG scores is so misplaced.
Rating agencies should rate the financial risk of stuff (mostly bonds they should try and do it well given that whole mess they created in 08)
They should not be involved in politics. When a rating agency goes beyond number crunching and they start looking at other stuff they are already out of their role. When they start looking at the number of women on the board that is preposterous.
Same is true for Fitch, Moodys, Bloomberg etc.
Everybody wants to be a politician and a virtue signaler these days...too bad that in a country full of politicians and virtue signalers nobody does any actual work.
- ClumsyPilot 3y ago> They should not be involved in politics. "Should we bail out the banks" was politics. BP has a massive oil spill, how much will they be fined, are they going to be fined more because they are a British and not American company? How much will fcrashes of Boeing Max cost Boeing? Imagine these crashing planes were from a Chinese company, what would the consequences for the company be ? The big economic projections are inseperable from politics. Only a naive person will believe otherwise
- JumpinJack_Cash 3y agoMaybe, but they are actively encouraging ESG with their lingo in press conferences and reports as opposed to being a neutral observer which solely coldly evaluates the risk of governments ganging up on a company
- ClumsyPilot 3y agoFor the same reason McDonalds encourages you to eat more burgers and Private prisons encourage you to commit crime