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1/2023 Washington to purge environmental, social, & corporate governance (ESG) factors in investing

Updated: Jan 14

Bronze Copper (Lycaena Hyllus)

Ice Age National Scientific Reserve Unit, Wisconsin, USA

2019-08-03 _F2A6586aaa


“Haldwani: India Supreme Court stays order on mass evictions”

https://www.bbc.com/news/world-asia-india-64171401


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America’s 4th Reich:

“House Republicans Attack Each Other, State Republicans Attack ESG Investing”

Quote:


“House Republicans have vowed to attack the consideration of environmental, social, and corporate governance (ESG) factors in investing in the new Congress and whatever may happen at the federal level, state GOP officials are forging ahead. Kentucky State Treasurer Allison Ball threatened to divest state funds from 11 major financial firms including Citigroup, JPMorgan Chase, and BlackRock unless they invest in fossil fuel companies.”


““This is clearly kind of a bizarre effort to open up a new front in the culture wars, and it’s really at odds with how the market works and the fundamentals of capitalism,” said Gregory Wetstone, president and CEO of the American Council on Renewable Energy. “They’re sacrificing other people’s financial well-being for their political agenda.””

They are prioritizing their pandering to special interests putting Big Oil first.

https://www.ecowatch.com/republicans-esg-investments.html


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Now they will demand deep cuts to the social safety net or shut down the govt:


“KEVIN MCCARTHY MUST COMMIT TO GOVERNMENT SHUTDOWN OVER RAISING DEBT CEILING, SAYS FREEDOM CAUCUS HOLDOUT


Rep. Ralph Norman, a South Carolina Republican, said the debt ceiling fight is a “non-negotiable item.””

https://theintercept.com/2023/01/04/kevin-mccarthy-government-shutdown-debt-ceiling/


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“Big oil had one of its biggest years ever in 2022”

https://www.marketplace.org/2023/01/03/big-oil-had-one-of-its-biggest-years-ever-in-2022/


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“Fed officials do not expect US interest rate cuts this year”

https://www.rfi.fr/en/business-and-tech/20230104-fed-officials-do-not-expect-us-interest-rate-cuts-this-year


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The journal “project-syndicate” is biased in favor of a Democratic Party that is the root of the problem:


“America’s New Era of Industrial Policy”


Matching private investment with government with tax credits. It’s like the whole thing was made up by a Private Equity tycoon.


The Inflation Reduction Acts climate provisions will not save us from catastrophic warming or horrific levels of extinction. The Act embraces bogus solutions to climate change and fails horribly in addressing sky rocketing new emissions from feedback that must be removed from the atmosphere. Mankind could easily be extinct before research makes existing carbon capture even relevant. But in the meantime, wealthy investors will save on their taxes.

Worse still, the administration’s continued waring and emphasis on expanding LNG and other fossil fuel development more than offsets any benefits from the misguided Inflation Reduction Act.


Washington is expecting private for profit industry, flush with government money, to meet social needs. Private industry opposed to government will own any solutions and the solutions will be offered to society on a for profit basis. This will fail those American’s who have a need for relief from our dying biosphere but can’t pay the profit margin.


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“An annual check-up for the climate movement”


When you haven’t done anything before of course the Inflation Reduction Act’s climate provisions will be the largest emissions reduction in the country’s history’s BUT THIS SAYS NOTHING ABOUT THE PROVISIONS ADEQUECY OR SUFFICIENCY which appears to be little next to NIL given that 85% of new green house gas emissions are coming from feedback and American carbon capture is a lurid joke of an obscenity. Go ahead an electrify all the vehicles you want, convert factories to zero emissions, stop all wars, and bring man’s emissions of gases to absolute zero and we will still be obliterated by the planet that we have caused to emit 85% of the problem.


The Inflation Reduction Act is cynical Washington hopium. It provides cursory, little and fluffy, highly publicized miniscule lip service to the climate collapse and mass extinction while giving wealthy Americans a chance to get rich off government assistance.


While I’m ranting, why is that the Environmental Defense Council’s offices are in financial districts within major metropolitan areas? Why does the Nature Conservancy always gets its leaders from Goldman Sachs?



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This will not be cured by the Inflation Reduction Act:


Major scientific breakthroughs have ground to a halt, study finds

What’s the surprise? In American education: the Earth is 5,000 y/o and flat, and science and math are the languages of Satan. Besides if the rich need something they’ll have the US military steal it and stick the working class with the costs of blood and treasury



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