Popular Articles
Today Week Month Year

Get woke, go broke: SVB’s focus on ESG led to its collapse
By Oliver Young // Apr 04, 2023

Businesses devoting resources to Environmental, Social and Governance (ESG) policies should learn from the collapse of the Silicon Valley Bank (SVB.)

The collapsed bank prioritized woke politics over the financial wellbeing of their clients. Instead of hiring qualified candidates for critical positions within the company and making prudent financial decisions, SVB focused on ESG – particularly climate and diversity, equity and inclusion initiatives. The bank even left its chief risk officer position open for eight months.

As evidenced by their "A" ESG rating, the failed bank was too focused on pushing a progressive agenda. That political focus did nothing to help it avoid disaster.

Although the bank was already struggling in January last year, SVB boasted that it had committed at least $5 billion to support green investment initiatives.

Many are still not familiar with ESG, which is a highly subjective political score that woke fund managers who control trillions of dollars in retirement assets are using to force progressive policies on everyday Americans without their knowledge or approval. It is a radical environmental and social agenda.

ESG is a racket built on a weak foundation of political activism. Asset management firms, banks and proxy advisers need to shift their focus to maximizing returns and safeguarding financial assets instead of playing politics. Otherwise, they might suffer the same fate as SVB.

BlackRock stock value plummets for promoting ESG scores

Last year, major investment firm BlackRock Inc. saw its stock value plummet after a slew of Republican-led states cut ties with it over its promotion of left-wing agenda items through ESG scores. (Related: BlackRock stock downgraded after pushing radical ESG agenda.)

We are building the infrastructure of human freedom and empowering people to be informed, healthy and aware. Explore our decentralized, peer-to-peer, uncensorable Brighteon.io free speech platform here. Learn about our free, downloadable generative AI tools at Brighteon.AI. Every purchase at HealthRangerStore.com helps fund our efforts to build and share more tools for empowering humanity with knowledge and abundance.

BlackRock Inc. manages almost $10 trillion in investments and boasts such big-ticket holdings as Amazon, Apple, Microsoft, and Tesla, according to filings with the Securities and Exchange Commission (SEC).

In October, UBS analyst Brennan Hawken downgraded the firm from "Buy" to "Neutral" due to its increasingly unpopular focus on pushing ESG scores.

Earlier, the firm announced it was launching an effort to help streamline and standardize ESG data, reaching over 70,000 private companies.

"We are downgrading BlackRock to 'Neutral' based on environmental pressure to earnings and risk from the firm's ESG positioning," Hawken said in the report, which flagged ESG as "increasingly risky."

Hawken cut BlackRock's target stock price by $115 per share – from $700 to $585. The firm's shares fell by one percent following the report.

ESG scores promote investment in companies that advance left-wing social justice goals, including green energy, racial equity and abortion access. Pressured by left-wing shareholders, many major corporations have begun promoting radical ideology on a range of social issues including homosexuality, transgenderism, race and abortion.

BlackRock has actively endorsed ESG principles and promised to promote diversity, equity and inclusion by leveraging its "ESG-focused financial products." The World Economic Forum is listed as one of BlackRock's key diversity partners.

Despite these warning signals, President Joe Biden used his veto authority for the first time on March 20 to kill a bipartisan congressional resolution reversing ESG policies. This means that maximizing retirement account holders’ returns will play second fiddle to progressive policy goals and that retirement portfolios are being placed in jeopardy.

Biden simply ignored that SVB's collapse serves as the canary in the coal mine for ESG investments.

The American people should take notice and be vocal. This financial freewheeling has already collapsed financial institutions. Worse, it may also put the country on the brink of collapse.

Watch this video about that talks about the Jews behind SVB's collapse.

This video is from The Prisoner channel on Brighteon.com.

More related stories:

ESG fraud exposed: FTX was awarded higher score on "Leadership and Governance" than ExxonMobil.

What is ESG? It's a leveraging tool for the woke communist takeover.

China-compromised ESG firm expands its reach in Biden White House.

World Economic Forum deletes article claiming ESG will make Sri Lanka rich by 2025.

Sources include:




Take Action:
Support NewsTarget by linking to this article from your website.
Permalink to this article:
Embed article link:
Reprinting this article:
Non-commercial use is permitted with credit to NewsTarget.com (including a clickable link).
Please contact us for more information.
Free Email Alerts
Get independent news alerts on natural cures, food lab tests, cannabis medicine, science, robotics, drones, privacy and more.

NewsTarget.com © 2022 All Rights Reserved. All content posted on this site is commentary or opinion and is protected under Free Speech. NewsTarget.com is not responsible for content written by contributing authors. The information on this site is provided for educational and entertainment purposes only. It is not intended as a substitute for professional advice of any kind. NewsTarget.com assumes no responsibility for the use or misuse of this material. Your use of this website indicates your agreement to these terms and those published on this site. All trademarks, registered trademarks and servicemarks mentioned on this site are the property of their respective owners.

This site uses cookies
News Target uses cookies to improve your experience on our site. By using this site, you agree to our privacy policy.
Learn More
Get 100% real, uncensored news delivered straight to your inbox
You can unsubscribe at any time. Your email privacy is completely protected.