Offsite Post: ‘Red State Wins and Losses vs Leviathan’

 

By ‘Leviathan’ we mean that monstrous merger of the federal government with giant corporations that menaces so many of our lives here in the United States, and also in countries abroad.

First up, a rather significant win for Red State lawfare – ESG investing is on the run:

 

We have been covering the full on implosion of ESG and "green" investing for the better part of the last 6 months and today, the wreckage continues.

 

That's because mega-bank JP Morgan has officially left a $68 trillion investor coalition that is "focused on pressing the world’s biggest emitters of greenhouse gases to decarbonize," according to Bloomberg.

 

In other words, the "fight" to decarbonize is imploding.

 

 . . . And the damage for the Climate Action 100+ may only be getting started. Lance Dial, a Boston-based partner at law firm K&L Gates LLP, told Bloomberg: “I wouldn’t be surprised if we see more defections, especially given that there’s now a cost, such as potential litigation, that wasn’t there when companies joined.”

 

He added: “Attorneys general have subpoenaed firms about their membership of these groups.”

 

 . . . “The political winds aren’t rewarding climate-active firms today, but climate risk and regulations aren’t going away in the mid to long run, so short-term decisions may need to be undone when those longer term threats begin to manifest or regulators clamp down harder,” said Michael Sheren, a former senior adviser at the Bank of England who’s now a fellow at the Cambridge Institute for Sustainability Leadership.

 

“JPMorgan pulling out matters because it sends the wrong, short-sighted signal and gives cover for others to do the same," he added.

 

And we're sure they will...

 

We noted earlier this year, "ESG" has become a "dirty word" on Wall Street. 

 

For some context, peak ESG and related synonyms, such as "climate change" and "clean energy" and green energy" and net zero," among other terms, peaked at 28,000 mentions in the first quarter of 2022. Ever since, the number of mentions has rapidly plunged. Halfway through the first quarter earnings season, mentions are around 4,800.

Much praise is due to the AGs of Missouri, Tennessee, and all the others who have used their offices to protect plain folks from these Wall Street vultures.

Unfortunately, the Legislature of the very Red State of South Dakota didn’t seem to notice any of this and, under the sway of the green economy/carbon capture lobby, is in the process of undermining individual private property rights so they can score some FedGov/corporate largess:

 . . .

The rest is at https://thehayride.com/2024/02/garlington-red-state-wins-and-losses-vs-leviathan/.

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Holy Ælfred the Great, King of England, South Patron, pray for us sinners at the Souð, unworthy though we are!

Anathema to the Union!