Post by account_disabled on Feb 27, 2024 2:25:15 GMT -5
The tycoon and CEO of Tesla Inc., Elon Musk, has sparked controversy by pointing out that the ESG strategy should be eliminated if it is not corrected, as he claims that it has been "twisted to the point of madness." According to the Daily Mail portal , he said this during a debate on whether ESG ethics rules should be updated to allow investment in defensive weapons amid the Russian invasion of Ukraine .
And the war in Eastern Europe has affected more than 1.5 million people - a third of them are children and minors - according to the United Nations (UN). In addition to the human losses, the looming humanitarian crisis will undoubtedly set a global precedent.
What is ESG?
Let us remember that ESG ( environmental, social and corporate governance factors ) refers Chinese American Phone Number List to the parameters that direct the path towards sustainable investment. In this context, implementing them has become a way to do business responsibly, make profitable, build and gain reputation.
ESG should be removed
In this sense, ESG criteria provide a reference standard for organizations and industries to evaluate and redirect their efforts by knowing, identifying and measuring their impacts. The global environment and the business ecosystem are changing and evolving at high speed, this is due to the influence of stakeholders , increasingly aware of the climate urgency.
Change ESG rules?
Although ESG criteria are based on well-being and social responsibility, the European Union and some banks in the United States suggest changing their orientation, starting with incorporating an ethical index that allows "social investment in arms." Which opens the debate on whether ESG should be eliminated, since doesn't it exist for the well-being of society?
Given this, Musk, together with businessman and software engineer Marc Andreessen, has reacted by mocking the suggestion of modifying ESG rules to allow investment in weapons against Russia. He also criticized an EU-sponsored checklist of supposed factors that companies must take into account when making decisions about where to invest.
US banks have suggested that the EU could classify the defense sector as an ethical investment, provided it is used against Putin. While energy companies proven to support Russia will be considered unethical under the same framework.
For his part, Andreessen took the opportunity to tweet a screenshot of a Reuters article that refers to a note from Citigroup analysts, which talks about how defense is likely to be increasingly seen as a necessity for maintenance. of peace, stability and other social goods.
ESG should be removed
Should ESG be eliminated?
Under the European Green Deal, the EU provides a list of sectors that are considered “green” or “ESG.” If companies comply with the rules, they receive a seal of approval, which investors can use to weigh their decisions, often resulting in increased investment.
esg should be eliminated investment
As reported by the BMV blog portal , investments in ESG assets grew 38% between 2006 and 2018, where the most valued activities were corporate and social responsibility, as well as environmental care focused on climate change. Is it possible that the war in Ukraine will change the rules designed to guide business ethics?
ESG should allow…guns?
The CEO of Teslta Inc. has stated that proposed new rules guiding ESG should be scrapped as they are being “twisted to the point of madness,” condemning the criteria that have been pushed by both the EU and the administration of Biden.
But in this context, is ESG investing in defensive weapons against Russia valid? While the energy companies that sell will be considered unethical. Isn't it irony?
Invest in weapons with a cause?
The war has created “socially responsible” military actions, as cited by The New York Times . At one point, weapons manufacturers will be included as acceptable socially responsible investments if the tide continues to turn, analysts maintain.
And the war in Eastern Europe has affected more than 1.5 million people - a third of them are children and minors - according to the United Nations (UN). In addition to the human losses, the looming humanitarian crisis will undoubtedly set a global precedent.
What is ESG?
Let us remember that ESG ( environmental, social and corporate governance factors ) refers Chinese American Phone Number List to the parameters that direct the path towards sustainable investment. In this context, implementing them has become a way to do business responsibly, make profitable, build and gain reputation.
ESG should be removed
In this sense, ESG criteria provide a reference standard for organizations and industries to evaluate and redirect their efforts by knowing, identifying and measuring their impacts. The global environment and the business ecosystem are changing and evolving at high speed, this is due to the influence of stakeholders , increasingly aware of the climate urgency.
Change ESG rules?
Although ESG criteria are based on well-being and social responsibility, the European Union and some banks in the United States suggest changing their orientation, starting with incorporating an ethical index that allows "social investment in arms." Which opens the debate on whether ESG should be eliminated, since doesn't it exist for the well-being of society?
Given this, Musk, together with businessman and software engineer Marc Andreessen, has reacted by mocking the suggestion of modifying ESG rules to allow investment in weapons against Russia. He also criticized an EU-sponsored checklist of supposed factors that companies must take into account when making decisions about where to invest.
US banks have suggested that the EU could classify the defense sector as an ethical investment, provided it is used against Putin. While energy companies proven to support Russia will be considered unethical under the same framework.
For his part, Andreessen took the opportunity to tweet a screenshot of a Reuters article that refers to a note from Citigroup analysts, which talks about how defense is likely to be increasingly seen as a necessity for maintenance. of peace, stability and other social goods.
ESG should be removed
Should ESG be eliminated?
Under the European Green Deal, the EU provides a list of sectors that are considered “green” or “ESG.” If companies comply with the rules, they receive a seal of approval, which investors can use to weigh their decisions, often resulting in increased investment.
esg should be eliminated investment
As reported by the BMV blog portal , investments in ESG assets grew 38% between 2006 and 2018, where the most valued activities were corporate and social responsibility, as well as environmental care focused on climate change. Is it possible that the war in Ukraine will change the rules designed to guide business ethics?
ESG should allow…guns?
The CEO of Teslta Inc. has stated that proposed new rules guiding ESG should be scrapped as they are being “twisted to the point of madness,” condemning the criteria that have been pushed by both the EU and the administration of Biden.
But in this context, is ESG investing in defensive weapons against Russia valid? While the energy companies that sell will be considered unethical. Isn't it irony?
Invest in weapons with a cause?
The war has created “socially responsible” military actions, as cited by The New York Times . At one point, weapons manufacturers will be included as acceptable socially responsible investments if the tide continues to turn, analysts maintain.