https://www.sec.gov/news/speech/can-the-sec-make-esg-rules-that-are-sustainable In contrast to the activist EU, the SEC is (still?) reluctant of ESG rulemaking, other than follow mandates by Congress, in what is, in my simple words and interpretation, perceived as a bag full of chaotic, contradicting and subjective definitions of what is ‘sustainable’ and what ESG encompasses or not. The SEC even quoted what Warren Buffett said with respect to shareholder proposals, voted on at the Berkshire Hathaway 2021 annual meeting, that would have required ESG reporting across all Berkshire Hathaway companies: “[O]verwhelmingly the people that bought Berkshire with their own money voted against those propositions. Most of the votes for it came from people who’ve never put a dime of their own money into Berkshire.” See Warren Buffett Berkshire Hathaway Annual Meeting Transcript 2021, at 02:05:37, https://www.rev.com/blog/transcripts/warren-buffett-berkshire-hathaway-annual-meeting-transcript-2021. … Btw, observation: With president and chancellor begging for gas and oil, with defense budgets expanding as never before, with the Greens building LNG terminals, firing up coal, fuel oil power plants, sending weapons, even donning fatigue green uniforms? How about sustainability, ESG Ratings? Who’s left getting top blessings? What about some of the do-good insurance and financial entities who swore off touching all this ugly stuff ever again, get out of fossils, nothing military? Refuse to insure, finance it? Our decision makers, politicians and governments? All of us tax paying sinners, too? Sarcasm off. Frightening some of this nonsensical, post-factual, ideology and models driven garbage, diverting badly needed resources doing our real job, getting a handle on the real economy. Reply
