CFACT president and co-founder Craig Rucker gave a presentation titled “ESG and the Rise of Woke Capitalism” to the Doctors for Disaster Preparedness (DDP) annual meeting in Las Vegas, Nevada.
The presentation can be watched in full here.
ESG, which stands for Environmental, Social, and Governance, has become big news, and big business on Wall Street.
“These companies, in a similar way [to credit scores], wanna make sure their ESG score is really high. And there’s all sorts of benefits that happen with their shareholder value, and just in general their ability to get loans and the like,” Rucker explained.
Rucker went on to explain that there are three theories on the purpose behind companies’ use of ESG. The leftist view is that ESG is a ruse by capitalist corporations to trick the public into abandoning necessary reforms of society. The rightward view is that those who lead such companies pushing ESG are pushing it because they themselves are liberal, and want society to go a leftward direction. Other companies are doing so to appease the Left and try to survive. Finally, there is the more populist view, which thinks ESG is a war between the haves and the have nots. Elites are pushing ESG for more power, in a way.
A great question and answer period followed.
DDP is a non-profit organization that “promotes homeland defense and prudent preparedness for disasters of all kinds, including war or terrorism. Its annual meeting brings together America’s foremost authorities on strategic and civil defense as well as prominent scientists speaking on real threats or manufactured scares.”
Again, the presentation can be seen here.