ESG to go into affect jan 30th

[Handloader109]

For you guys with retirement accounts and accounts that are managed by someone other than yourself, please be aware that starting end of the month the feds are allowing the managers to invest for environmental good and not to maximize your return. Please watch your money. Investing in green stuff they isn't money may not be in your best interests.

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[kerplode]

Thanks for the heads up. I manage my own accounts, but this is good info for many who may not know what going on.

ESG investing is the devil and it's crippling vital industries simply because they don't align with woke agenda. Some are starting to push back, but it's still going to be the driving force in institutional investing for the foreseeable future.

If you're interested in learning more about the faults of ESG, look at some of the stuff published by Prof. Aswath Damodaran. If you're looking for an easy-button anti-ESG investment to add some balance to your portfolio, check out Constrained Capital's ORFN ETF.

[Silvercreek Farmer]

Good info. Very little about this in the news. There is a lawsuit in progress.

https://www.doj.nh.gov/news/2023/20230127-esg-complaint.htm

[MaryB]

It goes thru the class action lawsuits over the losses are going to be epic!

[kerplode]

Here's an example of the kind of nonsense ESG creates:

In order to increase their ESG score, Hershey is forced to seek out sources of sustainable cacao beans. Hershey's consumers, however, don't care if Hershey uses sustainable cacao. Consumers that DO care about sustainable cacao content don't buy Hershey. So Hershey is spending time, effort, and capital to find an ingredient that their consumers don't care about and which significantly increases their costs. The increased costs have to be passed on to the consumer which hurts sales, and all of the above hurts profit. So they end up actively damaging their business in order to improve their ESG score and thus their standing with woke institutional investor and lenders. It's madness.

Higher costs and lower returns for highly questionable actual real-world benefit. And this is a company that isn't even on the "naughty list"

[popper]

And dark chocolate is contaminated with lead. Not very good for us.

[square butte]

And dark chocolate is contaminated with lead. Not very good for us.

And Cadmium - I believe there is a class action lawsuit against Hershey's at the moment for this issue

[TurnipEaterDown]

Here's an example of the kind of nonsense ESG creates:

In order to increase their ESG score, Hershey is forced to seek out sources of sustainable cacao beans. Hershey's consumers, however, don't care if Hershey uses sustainable cacao. Consumers that DO care about sustainable cacao content don't buy Hershey. So Hershey is spending time, effort, and capital to find an ingredient that their consumers don't care about and which significantly increases their costs. The increased costs have to be passed on to the consumer which hurts sales, and all of the above hurts profit. So they end up actively damaging their business in order to improve their ESG score and thus their standing with woke institutional investor and lenders.

This is exactly the AIM of Leftist ESG efforts.
Activism didn't get them what they wanted, so coerce business into doing the will of the Leftist minority at the expense of All customers.
The Leftist is Directing The USE of the money of consumers otherwise spent elsewhere.
If the corporations Don't follow this, they get cutoff from the banking system. Because... The Leftist control that.

There is an effort to create an alternative Banking system to counter the Left. I don't know how well this will work. The regulators are Leftist, and they say what you can do -- can you start your business? We shall see.

[Hick]

The fee for my investment guys is a small percentage of the profits, so I'm going to keep an eye on them but I'm not too worried.

[elmacgyver0]

Isn't lead and cadmium what makes it taste good?

[elmacgyver0]

Now I am hungry for a Hershey's candy bar.
Just happen to have a couple boxes of them in the freezer.:grin:

[BandeauRouge]

boo hooo hooo all since the 1970s you are supposed to limit the amount of fish fed to children under 18 to deal with mercury and other heavy metal contamination. Not only the amount, but the species. NO one in the liberal world disagreed with that. it can cause mental retardation and delayed mental growth.

The liberal feel good world disagreed that injecting new borns with DOZENS of shots all containing mercury and other heavy metal could cause mental problems like autism in children.

Last month the federal government allowed for class action lawsuits against the main companies making baby formula because mercury and other heavy metals in the baby formula "may cause mental defects like autism."