Woke Investing Faces Backlash as Russian Oil Dependence Backfires
Investors like Blackrock CEO Larry Fink have pushed for ESG (environmental, social, governance) standards to impose their woke values on all corporations. In practice, that meant punishing American fossil fuel companies – much to the benefit of Russia. New York Post columnist Charles Gasparino highlighted the ties between ESG investing and the danger it has already caused to western nations: “Bodies are piling up, bloody images of Ukrainian women and children are seen daily almost in real time, yet under ESG coda it’s OK to be operating a McDonald’s in Moscow. You can also invest in a company owned by one of Putin’s oligarch pals because big exchanges like Nasdaq exempt foreign companies like those in Russia from their ESG listing standards.”
Photo credit: REUTERS/Evelyn Hockstein/Pool/File
