The pushback against ESG steps into high gear with hearing at the Texas Senate Committee on State Affairs.
.@SenBryanHughes starts off the Texas Senate Committee on State Affairs ESG hearing by laying out how the ESG agenda poses a threat to both the security of American families and our overall national security:
Texas State Sen. @loiskolkhorst highlights how ESG investing is an abandonment of fiduciary duty, because ESG funds routinely underperform benchmark indexes:
The first witness, @bmbrigham, told the story of how Wall Street’s ESG scam has affected him and his business personally, outlining how @CreditSuisse ( $CS ) indicated that they would deny him for a loan if he didn’t tweet out various points praising the green energy agenda:
Executive Chairman of Brigham Minerals, @bmbrigham, highlights how companies in China, using slave labor to produce solar panels, are being given higher ESG ratings than his company because his company operates in the oil & gas industry:
Filibustering won’t work in Texas. The people want answers, they want transparency, not ESG talking points.
When pressed on @BlackRock being “fired” by Florida @GovRonDeSantis over the company’s ESG activism, BlackRock’s Head of External Affairs claimed that the company doesn’t use ESG scoring for investments and doesn’t know why they were fired by the state of Florida:
“We are actually quite concerned about the rise of stakeholder capitalism as a class of investing…”
🚨 @StateStreet Global Chief Investment Officer Lori Heinel admits ESG is *NOT* a performance enhancer:
This is huge. I wonder how many @StateStreet ESG fund prospectuses admit that?
.@StateStreet‘s Global Chief Investment Officer panics when caught in a blatant lie and looks to the company’s lawyers for an out:
🚨 @StateStreet Global Chief Investment Officer Lori Heinel accidentally admits that State Street had no “formal financial analysis” to back-up their vote in-favor of forcing an American energy company to conduct a “racial equity audit”: