ESG + CRS = BS ? Straight Talk on Business for Social Good with Tariq Fancy and Bethany McLean

[@positiveandstrong]

ESG and Net zero initiatives have become some sort of a gravy train for so-called consultants such as McKinsey, MSCI, accenture, and other usual suspects. They're charging fees for trying to measure something which isn't measurable. Yet their fees are off the charts.

[@robertmarmaduke186]

The NWS Regional Climate Center, reporting to IPCC Brussels, sits on 25,000 acres of concrete and smoking asphalt. They admit their summer readings are +10F to +14F (10 Centuries of Global Warming) higher than surrounding towns. Seattle designated their site a Critical Minority Climate Heat Reparations Zone! "RECORD MID-MAY HEAT FOR WEEKEND!!" NWS Climate Center + KING5 megaphoned to Signs & Tribulations End of Days Gretians. RECORD HEAT!! Well, near noon here, 25 miles outside Seattle, *FORTY-EIGHT DEGREES AND DRIZZLING.* _So much for the beach!_ Anti-Science ESG Ludditry has taken over Social Media. *I cow fart on your El Nino!*

[@deenzmartin6695]

it's quite the racket

[@plant_leaf]

Exactly. My uncle is one these consultants, who provide CSR consultancy. He goes on and on about how he is 'solving social problems using technology'

[@Kathakathan11]

It actually has some tangible outcomes, seems like you don’t belong to that field. I simpler example, the steel industry that finds the education of slum children, who don’t have access to quality education. Another project of training African ladies to install solar equipment’s and repair them, this creates financial security.

[@d.owczarzak6888]

Down with ESG !!!!

[@claypoole702]

ESG is... #JustAnotherSocialCreditScore I don't know about you, but I do not want centralized controls in any format. I don't want some agency placed in a powerful positions encumbered by immature psyches dictating whom gets to benefit from their discretions.

[@shin-ishikiri-no]

Did you buy and start using Monero XMR? No? Then how are you resisting centralization?

[@claypoole702]

@@shin-ishikiri-no Small stones create large ripples. Everyone is trapped in the conditioning of instant gratification. Life isn't a tap, a light switch. You can't turn it on and off with ful effect ever. Binary thinking leads to binary observations and binary solutions. Up you experiences... You will see life can have a better pallette.

[@Kathakathan11]

You described any society, every society and country has centralising tendency. Simple

[@gb4375]

Excellent conversation. I have been studying these challenges during my MBA and continued with University of Cambridge post-grad studies. This conversation managed to capture many key challenges and findings in a brief time. I would love to hear more on this topic, perhaps a series.

[@YBHML]

So cool to get a "masters" degree from an institution that exploits black men on basketball courts for billions

[@gabb05]

Great conversation. Tariq just gets to the point, no sugar coating

[@bigpicture3]

I noticed there are no psychologists on the panel. The current theory in that science is that the general (baseline) attitudes, feelings, and social behaviours, of a person are formed by the time they are 7 years old. The amount of that which is attributable to biology and/or to social conditioning in not clearly known, only that it emerges and is formed. A lot of this takes the form of unconscious biases, likes and hates etc. race, gender, ethnicity, and every other rational and irrational attitude. So a key to this early development is NOT to teach "irrational beliefs", or beliefs and attitudes that unconsciously conflict. This concept by Larry Fink about "forced behaviours" on Corporate Executives is totally contrary to human nature, and to Capitalism. If you try to "FORCE" a "Corporate Executive" out of making PROFIT for shareholders, then you are going to get the crazy "Budweiser Effect".

[@zacharydavis4398]

Thanks for spending the time to create and share this content awareness/perspective

[@ashleyking]

We have to look at the true cost of production ESG helps us do that. It's not perfect but it's moving in the right direction.

[@DanielSRosehill]

Enjoyed Tariq's intelligent analysis!

[@deenzmartin6695]

esg is a scam. in fact, it's worse than that.

[@d.owczarzak6888]

Blackmail !

[@barberton3695]

Totally agree.

[@prednosttrake]

Extra ESG points if you discriminate against Christian white males.

[@Kathakathan11]

They discriminate against any religion, it’s mostly atheist approach.

[@Kathakathan11]

Except islam obviously

[@envenged6967]

As someone that supports ESG efforts reflexively, this was an excellent discussion in broadening the scope of the discussion to diagnose the underlying problems facing society. For me, ESG is a band-aid that feels more likely to succeed in the short term at boosting environmental and social equity outcomes than fixing the underlying issues (obstructed government, disinformation, corruption, etc.). The danger is of course that these band-aids do more harm than good, specifically by covering up/excusing corruption and anti-democratic trends while making inadequate progress on dire environmental and social issues. While the takeaway is that we have a lot more work to do than ESG rhetoric would have us believe, it also makes the argument for a broader solution more robust to populist challenges.

[@deenzmartin6695]

never support anything "reflexively"

[@kathleen4376]

Would love to hear more

[@lrye-xyz]

If ESG is necessary, put it in law, where it can be contested. Otherwise it is ideological, subjective and undemocratic

[@AtandraBhar]

ESG is good for society. Companies throughout the world focus on environmentally safe products. Government forces companies to be safe for society. Tariq said about tesla capitalism n tobacco capitalism. According to him,Government encourages tesla capitalism but it keeps a surveillance eye to tobacco capitalism. Environmental scientists also warn. Companies now check the government initiatives n companies find values added from junior to senior for good of society. Thanks.

[@NoemiJamie]

The fundamental problem we have here is that the earth has only so many resources on it. Yes with technology we are finding more - it still is constrained and the world is becoming more polluted/degraded. ESG has become a political football in many cases. Surely it needs to step aside from such debates and for ESG to focus on the environmental element, otherwise there will be no future profit for firms to harvest.

[@ashleyking]

EDG Is Total Cost Business Model Investment rather than Cost Shifting Model With more data than ever before Now we can see the cost of pollution an environmental destruction.

[@hp_0189]

ESG = The Gay for pay score 😆 🤣 😂

[@JohnPaulGarcia-fi3pg]

You can still intergrate CSR and ESG ideals and philosophy naturally. You don't need these so-called "consulting groups or firms" to achieve that. You just need to be self-aware with everything around and respecting the indivial it collective rights of not only your workforce but also your clientele without being seen as being "forceful" and has an obvious ulterior motive or agenda. It's just a matter of how you implement and practice it.

[@muhammadputera6593]

You could for sure. The question is why you'd want to. The typical answers to this don't work, whether you're C-suite, investor or generally interested in societal improvements. The reasons these answers don't work are elaborated upon by Aswath Damodaran in his ESG write-ups. The way out, then, is to either say you're looking for a different thing entirely than the usual 3 answers for the 3 main interest groups above, or to reject some of the assumptions in Damodaran's (to me MECE) analysis (or to reject the analytical framework, or dispute the data)

[@yourportlandlifestyle2907]

Nice talk. I can speak to the energy piece of this and many of the components of buildings are already labeled for energy consumption. Building energy codes are created after testing on various building assemblies. The esg score as far as a consumer can see just gives a number. Well what does that mean? Is it offsets that gets them there? Is it the buildings that get them there? I find just that one portion of the score to be opaque and rather meaningless. We have energy audits here on residential homes and I know of a project that was built by the same builder tested by 2 different auditors that were 35% apart. That is not a reliable number.

[@SkyOceanBleu]

If there are great regulatory ideas to be implemented, they should be voted on thru Congress. If there are business decisions to be made, they should serve the shareholders. ESG in its current form sidesteps our democratic republic representation, and runs counter to the Boards responsibilities to the shareholders, while giving people setting ESG standards powers they should not have. I say this without regard to the merits of ESG agendas, or lack thereof. Some ESG ideas could be really good ideas, and they would still suffer from aforementioned major issues.

[@redsox258]

.......... Soooooooooo, you're sayign short ESG's? Fuck it, I'm in!

[@n.8690]

You advocate for mandatory instead of voluntary compliance. Are the EU ETS, ESPR, German LkSG, and CSDDD not steps in this direction? How should this mandatory law look like in your opinion?

[@ashleyking]

True profit has to account for true cost ESG is an attempt to do that

[@technononono966]

Typo in the title

[@ruvanefriebus-cv6td]

Stanford University based AF well done

[@deenzmartin6695]

i wouldn't go that far

[@ruvanefriebus-cv6td]

@@deenzmartin6695 Well there's a bit of hope

[@arunikapritimishra632]

35:30

[@arunikapritimishra632]

51:50

[@ashleyking]

The rubber plantations in Africa don't reflect the contribution of child labor and environmental degradation

[@ashleyking]

The cotton never reflected the true cost/contributed by slave labor.

[@ashleyking]

Exploitive capitalism has the true cost of production.

[@beeman9845]

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