Lil Wayne pleads guilty to gun charges - 10 years in prison
Kodak Black pleads guilty to gun charges - 3 years in prison
Hunter Biden pleads guilty to gun charges - No jail time
AMERICAN JUSTICE: 69-Year-Old Grandma with Cancer Given More Prison Time for Walking Inside US Capitol than Hunter Biden for Sharing Classified Documents with Foreign Regimes and Multi-Million Dollar Bribery Schemes https://t.co/6aTwa1iO6g
@aaronsibarium Great thread on how ESG is used as a moral cloak to hide bad behavior.
Any cause that makes makes it’s virtue unquestionable will immediately be adopted by the unvirtuous.
That may be why Philip Morris International, in its 2022 ESG report, bragged about "empowering" female tobacco farmers. "Women involved in tobacco farming often face structural and cultural barriers," the report explained. https://t.co/zCszCrVpkF
An unusually green tobacco giant could score better than an electric carmaker with an all-male board, and corporations can earn points merely by setting water reduction targets or using "diverse" suppliers.
But ESG ratings often mask those effects. Some scores, including S&P Global's, say in fine print that they are sector-specific, which means companies are held to different standards depending on their industry.
Tobacco farming, which mostly takes place in developing countries, causes deforestation and soil erosion. Tobacco workers are exposed to toxic chemicals, including high doses of nicotine, which can lead to hospitalization.
"Companies score 'points' mainly by demonstrating their compliance with the latest dogmas issued by the DEI complex."
Cigarettes are the leading cause of preventable death in the United States, killing more people than alcohol, illegal drugs, and car accidents combined.
"ESG company ratings often measure abstract woke goals that have no rational connection to companies' actual businesses," said Boyden Gray & Associates managing partner Jonathan Berry, who sued NASDAQ last year over its diversity requirements for corporate boards.
That has created countless opportunities to game the system, experts say, and lets even the most sordid companies score points—and investors—by toeing the progressive line.