The WEF’s ESGs are the Mark of The Beast | DeepThink IX
by Connor Tomlinson
The few remaining courageous Republicans in Congress are waging war on Environmental, Social, and Governance (ESG) scores. The ESG framework, a darling of the World Economic Forum’s (WEF) stakeholder capitalism concept, has in recent years been adopted by hedge funds, financial providers, and businesses the world over. But what does this insidious instrument of economic upheaval which has infiltrated, and is actively influencing, global markets hope to achieve? Who are these money-changers within the Cathedral?
ESGs and Stakeholder Theory
On 2022’s International Women’s Day, Labour MP Dawn Butler reposted a speech in which she urged the government to convert the ‘career ladder’ into a ‘career escalator’ exclusively for women and ethnic minorities. To ensure race and gender representation (often disproportionately to the general population) on corporate boards, the Labour Party proposes a government certification system grading businesses on their commitments to superficial diversity and the inclusion of members of ‘protected characteristic’ classes. As if by accident, this would be a legal instantiation of companies to abide by the World Economic Forum’s Environmental, Social, and Governance Score programme.
ESGs prescribe companies to divest their profits into social, political, and environmental action. These allowances are compensated with the promise of capital investment, providing their scores remain high and competitive relative to rivals. They have been the recent focus of Republican lawmakers’ efforts to deregulate businesses on the road to post-COVID economic recovery: the Congressional GOP fears ESGs are pressuring businesses into committing ‘woke capital’ to Leftist social causes, effectively circumventing the will of the people expressed at the ballot box. Essentially, ESGs appear to be an insurance policy for businesses to circumvent the tried truism, ‘Get woke, go broke’. Head of the US Securities and Exchange Commission, Allison Herren Lee, has gone so far as to call for corporate executive pay to be tied to a company’s ESG score.
ESGs are the brainchild of WEF founder Klaus Schwab. The Davos man who would be our king was born in 1938 in Ravensburg, Germany. His father, Eugen Schwab, was managing director of a subsidiary of Zurich-based engineering firm Escher-Wyss, which used slave labour to manufacture flamethrowers for the Third Reich. Schwab was also reportedly involved in the Swiss government’s secret nuclear arming of apartheid South Africa. Newsweek deboonked this Nazi narrative by stating:
“The history of Eugen’s relationship with Nazism in general is complex but there is no substantive evidence of ties to high-ranking German leadership, particularly Hitler.”
It is unlikely that the same charitability would be extended to anti-establishment figures with comparably unfortunate genealogies. This fact-check, therefore, stinks of disingenuous repressive tolerance. Ran by the legacy press, such interferences allow Schwab to project a reputation of being a global peacekeeper who originated ex nihilo from the aether.
The trustworthy Mr Schwab intends ESGs to be the tool that morphs the existing model of shareholder accountability into his idea of ‘corporate social responsibility’ under ‘Stakeholder Capitalism’. To access investment from the numerous—and powerful—venture capital firms partnered with the WEF, businesses must become ‘New Champions’ of their preferred Environmental, Social, and Governance-related causes. Entry to this exclusive club is conferred by donating profits and tailoring operating policies toward efforts such as lowering carbon emissions or promoting gender and racial parity within their boardrooms. Businesses will no longer be beholden to ‘the prevailing shareholder-primacy model of profit maximisation,’ but instead to ‘more socially conscious’ stakeholders ‘in our global future’—appointed experts in fields like environmental sustainability, racial and gender equity, and international statecraft. This will complete Schwab’s ‘Great Reset’ of capitalism, conveniently instigated during the “rare but narrow window of opportunity” provided by the global COVID response crisis.
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