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- Aug 7, 2022
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The anti-wokes are celebrating yet another dubious victory as new data shows that global investments in ethical companies have nosedived by nearly $5 trillion over the past two years.
The Global Sustainable Investment Alliance (GSIA) on Wednesday reported that the total value of sustainable assets has shrunk from $35.3 trillion in 2020 to a mere $30.3 trillion in 2022. S&P Global Clean Energy Index reports a 30% fall so far in 2023. The United States alone has seen assets in ESG funds plunge 50.5%, from over $17 trillion to a meager $8.4 trillion.
[Sidebar: ESG, short for environmental, social, and governance, refers to a set of ethical standards guiding investors on how to place their money so as to minimize harm. While funding wind farms and equity seems universally appealing, right-wingers argue that these initiatives “oppress” white males.]
The repercussions of the anti-ESG downturn have not been felt uniformly. Investors of color bear a disproportionately heavy burden as they are more likely than white folks to invest in companies aligned with ethical and sustainable practices. These are, after all, the companies that are also willing to affirm that non-white lives matter.
While anti-ESG sentiment erodes financial portfolios of color, it also undermines our collective efforts to promote positive change through responsible investing. And the broader implications suggest an ever widening gap in wealth and opportunity, as losses to portfolios of color only exacerbate existing disparities.
Let’s be clear about where to put the blame. Conservative lawmakers, driven by an irrational culture of anti-woke hysteria, have actively taken measures to resist the incorporation of ESG principles into business and investing. This opposition has manifested in legislative efforts across multiple states, from Florida to Utah, where lawmakers are pushing back against the injection of ethics into the financial sector.
The anti-woke hysteria driving them finds its origins in unmoderated online communities, most notably hate platforms like 4chan and X. Bitter young males — often incels — from these darkweb sites are brutally enforcing a vast online alt-right echo chamber, effectively drowning out more rational voices. This shapes not only public discourse but also the policy decisions of conservative lawmakers eager to put harmful online ideas into legal practice.
The hate from these groups has picked up steam with the tanking of Anheuser-Busch, and is often attenuated by extremist statements from alt-right leaders and podcasters. 4chan and X erupted in celebration on Wednesday when Elon Musk spread a dangerous advertisement-related conspiracy theory about a Jewish man while on the New York Times DealBook Summit stage.
Outside of a few token efforts, the powerful ripple effects of these online ideologies on real-world policies is something that has not been grappled with. And far too many are still afraid to call the phenomenon what it is. Because it is terrorism.
So that’s the status update, my dear Afrunauts. Our planet and its future is now basically held hostage by young males recruited into 4chan’s hate army by Elon Musk and extremist online podcasters like Joe Rogan and Tim Pool.
Where do we go from here?
Economic thinkers like Hasan Piker suggest one short-term solution for revitalizing ESG could involve ethical investment requirements for funds, ETFs, and 401(k) plans. Such a mandate could function as a booster shot in the arm of ethical financial interests, aligning global capital with sustainable and equitable societal goals.
Will it happen?
Not unless reasonable people get together and create their own lawmaker-influencing echo chambers to counter theirs. A tall proposition.
Ultimately, we’ll have to deal with the terrorists. Our planet is now at stake.
The anti-wokes are celebrating yet another dubious victory as new data shows that global investments in ethical companies have nosedived by nearly $5 trillion over the past two years.
The Global Sustainable Investment Alliance (GSIA) on Wednesday reported that the total value of sustainable assets has shrunk from $35.3 trillion in 2020 to a mere $30.3 trillion in 2022. S&P Global Clean Energy Index reports a 30% fall so far in 2023. The United States alone has seen assets in ESG funds plunge 50.5%, from over $17 trillion to a meager $8.4 trillion.
[Sidebar: ESG, short for environmental, social, and governance, refers to a set of ethical standards guiding investors on how to place their money so as to minimize harm. While funding wind farms and equity seems universally appealing, right-wingers argue that these initiatives “oppress” white males.]
The repercussions of the anti-ESG downturn have not been felt uniformly. Investors of color bear a disproportionately heavy burden as they are more likely than white folks to invest in companies aligned with ethical and sustainable practices. These are, after all, the companies that are also willing to affirm that non-white lives matter.
While anti-ESG sentiment erodes financial portfolios of color, it also undermines our collective efforts to promote positive change through responsible investing. And the broader implications suggest an ever widening gap in wealth and opportunity, as losses to portfolios of color only exacerbate existing disparities.
Let’s be clear about where to put the blame. Conservative lawmakers, driven by an irrational culture of anti-woke hysteria, have actively taken measures to resist the incorporation of ESG principles into business and investing. This opposition has manifested in legislative efforts across multiple states, from Florida to Utah, where lawmakers are pushing back against the injection of ethics into the financial sector.
The anti-woke hysteria driving them finds its origins in unmoderated online communities, most notably hate platforms like 4chan and X. Bitter young males — often incels — from these darkweb sites are brutally enforcing a vast online alt-right echo chamber, effectively drowning out more rational voices. This shapes not only public discourse but also the policy decisions of conservative lawmakers eager to put harmful online ideas into legal practice.
The hate from these groups has picked up steam with the tanking of Anheuser-Busch, and is often attenuated by extremist statements from alt-right leaders and podcasters. 4chan and X erupted in celebration on Wednesday when Elon Musk spread a dangerous advertisement-related conspiracy theory about a Jewish man while on the New York Times DealBook Summit stage.
Outside of a few token efforts, the powerful ripple effects of these online ideologies on real-world policies is something that has not been grappled with. And far too many are still afraid to call the phenomenon what it is. Because it is terrorism.
So that’s the status update, my dear Afrunauts. Our planet and its future is now basically held hostage by young males recruited into 4chan’s hate army by Elon Musk and extremist online podcasters like Joe Rogan and Tim Pool.
Where do we go from here?
Economic thinkers like Hasan Piker suggest one short-term solution for revitalizing ESG could involve ethical investment requirements for funds, ETFs, and 401(k) plans. Such a mandate could function as a booster shot in the arm of ethical financial interests, aligning global capital with sustainable and equitable societal goals.
Will it happen?
Not unless reasonable people get together and create their own lawmaker-influencing echo chambers to counter theirs. A tall proposition.
Ultimately, we’ll have to deal with the terrorists. Our planet is now at stake.
