Glenn has been one of the most outspoken critics of the use of ESG by globalist elites to force businesses to comply with their woke agenda. It turns out, not only is ESG bad political practice—it's bad for your wallet too.
Global Investments in ESG Funds PLUNGED 76 percent globally in 2022 from $157.3 billion to $649.1 billion in 2021, with a 20 percent decrease in the U.S. ALONE. This marked the lowest annual net inflow for ESG funds since $69 billion in 2018.
Morningstar via Investopedia
The downturn in ESG investment is largely due to the concerted effort led against ESG led by Glenn and government officials like Ron DeSantis and his anti-ESG 14-state coalition. Thanks to Glenn and DeSantis, an increasing number of states are barring their governments from taking ESG into consideration when determining their investment recipients for state pension and retirement funds. This not only protects critical American industries like oil and gas, but moreover, it protects the First Amendment rights of business owners who don't want to conform to the Left's woke environmentalist and LGBTQ+ standards.
Thanks to Glenn and DeSantis, an increasing number of states are barring their governments from taking ESG into consideration.
However, the massive plunge in ESG investment isn't only attributed to the political pushback against the practice: it also isn't yielding investors the return on investment they were hoping for. In fact, the main ESG funds have a NEGATIVE return on investment.
ESG funds were hit hard by falling equities. One of the largest ESG funds int the U.S., Parnassus Core Equity Fund (PRBLX), fell 26 PERCENT in 2022. This fund performed nearly six percent worse than the S&P 500, which fell 19.44 percent within the same period. Similarly, iShares ESG Aware MSCI USA ETF (ESGU) fell 20 percent, and Vanguard ESG U.S. Stock ETF (ESGV) plummeted 24 percent.
Even the Harvard Business Review admitted investors in ESG have "not fared well":
ESG funds certainly perform poorly in financial terms. [...] Although the highest rated funds in terms of sustainability certainly attracted more capital than the lowest rated funds, none of the high sustainability funds outperformed any of the lowest rated funds [bolded added]. That result might be expected, and it is possible that investors would be happy to sacrifice financial returns in exchange for better ESG performance.
The Harvard Business Review went on to say that ESG funds don't even benefit the environmental and social causes they tout to defend. In fact, when comparing environmental and social compliance between ESG and non-ESG funds, the
"ESG portfolios had worse compliance record for both labor and environmental rules" than their non-ESG competitors.
Let that sink in. ESG funds not only financially underperformed when compared to their non-ESG competitors. They failed to secure the very environmental and social compliance that is central to their original purpose. Missionally, practically, and financially, ESG failure is astounding.
As Glenn has long warned, the only thing that investment firms and governments should be taking into consideration regarding YOUR money is how they can get the best possible return on YOUR investment. We are seeing the detrimental consequences of what happens when woke ideology becomes the basis of investment rather than the recipient's monetary value.
The only thing that governments should take into consideration regarding YOUR money is how to get the best possible return on YOUR investment.
If political conviction alone isn't enough to persuade the general public to ditch ESG, maybe their hurting pursestrings will.
Glenn will show how ESG is being used to further globalist elites' agendas in the second installment of his Great Reset series, Dark Future.To make sure you're caught up and to learn more about ESG, enter your email below to get chapter one of Glenn's first Great Reset book sent straight to your inbox.
Glenn has hosted several GlennTV episodes exclusively on AI this year ALONE, warning of the existential threat AI technologies could pose to humanity. And he isn't alone.
HALF of all AI researchers think there's a chance that the rapidly advancing technology could result in our extinction. AI researchers are already sounding the alarm bells concerning the fast and largely uncontrollable progression of AI advancement, often comparing the technology's impact to that of the atomic bomb—yet we aren't putting in the same degree of guard rails around THIS research as we did during the Manhattan project.
HALF of all AI researchers think there's a chance that AI could result in our extinction.
It is no wonder why 61 percent of Americans think AI poses a real threat to human civilization, according to a poll recently published by Reuters and Ipsos. To put that in perspective, nearly two-thirds of ALL Americans think AI poses an existential threat. Only 22 percent of Americans are not threatened by AI, while the jury is still out with the remaining 17 percent.
Poll: Reuters/Ipsos
And the overall concern over AI transcends both political and religious affiliations. Though conservatives and evangelical Christians showed the most concern for AI, non-evangelicals/non-religious and those who did not vote for Trump follow close behind.
The overall concern over AI transcends both political and religious affiliations.
Participants who voted for former Trump in 2020 were more likely to be concerned about the threat of AI, with about 70 percent agreeing that AI could threaten humanity within this demographic. However, a whopping 60 percent of those who did not vote for Trump view AI as a threat. When is the last time the Left and the Right disagreed on something by only a margin of 10 percent?
Similarly, 32 percent of Evangelical Christians say they “strongly agree” with the claim that AI threatens humankind, compared to 24 percent of non-Evangelical Christians, a margin of only 8 percent.
Elon Musk recently called for a six-month pause on AI research and development, warning that the technology could pose “risks to society.” Musk further warned that there is a chance AI “goes wrong and destroys humanity," calling AI a “double-edged sword,” due to the difficulty of predicting how the technology could develop on its own.
Glenn aptly posited the following question:
We are the products of a grand Creator. However, when it comes to AI, we are the creator. Will our creation turn on us, as we have turned on our Creator?
According to the Christian tradition, God created mankind with his own free will with the ability to turn towards or away from his Creator. We turned away in an act of rebellion. Unlike other technologies, AI has the potential to develop its own "will." Whether AI's "will" is equal to the humans' in terms of value and degree is another philosophical and theological question entirely, which will not be discussed here.
AI has the potential to develop its own "will."
However, the fact of the matter is that AI does have the ability to act according to its own processes that we, its creators, can neither control or predict. As Glenn so poignantly asks, will our creation rebel against us, as we rebelled against our creator? Is it any wonder why Evangelical Christians have the greatest reservations against AI, because they know the consequences of creation's rebellion from its creator?
Until we can answer this critical question, perhaps we should take heed both to Musk's warning and the intuition of six out of ten Americans and press the pause button on AI research... before it's too late.