The ESG Narrative Is A Wolf in Sheep’s Clothing – Bitcoin Magazine


This is an opinion editorial by Macro Jack, a Bitcoiner with a background in traditional financial services spanning investment research, investor relations and business development.

Environmental, social and governance (ESG) is an approach to evaluate companies or countries based on their alignment with these three factors. Growing in popularity in recent years, ESG has become a globally adopted framework and a focal point of capital allocation. The concept sounds harmless on paper since most people are good and want to advance environmental or social issues. Even better if we can do it through investments. However, introducing a monetary reward for ESG’s disciples introduces a whole new set of incentives that have likely not been thoroughly examined by the investment community.

There is more than meets the eye. The ESG evaluation process is arbitrary, opaque and centralized, leaving significant room for corruption. It is also suspicious that one of the key proponents of ESG is the BlackRock CEO, Larry Fink. BlackRock is the world’s largest asset manager managing more than $10 trillion, and Mr. Fink’s lifestyle reflects that. He enjoys flying private to Davos, relaxing in his Aspen mansion and telling you to reduce your carbon footprint.

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