Overly emotional ESG is a distortion that may be as dangerous as climate change denial.
Kirk is a smart guy - he's the former editor of the FT's Lex column and had responsibility at HSCB for ESG and new green product development.
He will, of course, be sacked for putting his employer at risk by daring to question the hyperbole around ESG. Naturally, HSBC's leadership cadre has reacted with horror and shock - even though the speech was approved 2 months ago and has been sitting on the company website.
Analysts have questioned its ESG culture, governance, ambition and stewardship in the wake of Kirk's comments.
Others have slammed its "Fiduciary duty towards clients" if its investing in non ESG projects without a primary concern for saving them from climate change.
For years I've been warning about ESG distortions.
Climate change is real, and it could be addressed by the markets to innovate, build and launch solutions but what we have today is hysterical ESG distortions - which are as much responsible for the West's energy crisis as Putin!
It's becoming increasingly difficult to discern fact from fiction, and unfortunately the media has a strong bias. They spin stories to make conservatives look bad and will go to great lengths to avoid reporting on the good that comes from conservative policies. There are a few shining lights in the media landscape-brave conservative outlets that report the truth and offer a different perspective. We must support conservative outlets like this one and ensure that our voices are heard.
Wednesday, May 25, 2022
ESG Heresy Triggers Shock and Horror – and about time!
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