Random Note — ESG
China has its social credit scores as they apply to the individual. If you’re good you can go out to play. If not you’re on detention until you change your ways.
ESG (Environmental, Social and Governance) is the same thing applying to business whereby businesses are expected to adhere to the panoply of diktats, rules and regulations of the “woke, environmental and QWERTY keyboard agenda of sustainability, diversity, equity, inclusion, climate and all the rest of it.
The scores are issued and policed by some big corporate operators like Price Waterhouse and Bloomberg.
Not unlike say, your drivers licence where you start out with 12 points, the ESG score or index starts at say, 100, with points being deducted for non compliance with the ESG edicts and the results published so that potential investors and the banks can consider your corporate index (score) when lending or investing.
The performance of your company and ability to service the loan is now not the only consideration as it has been in the past.
It’s a form of extortion to force compliance with the doctrines, diktats and principles of the unelected, self appointed elite of the likes of the WEF, (World Economic Forum)
Imagine the council health inspector or work place safety officer (with the obligatory clipboard) visiting your business premises and you get the picture.
Although they can’t stop you from operating it can make raising finance and attracting quality investors a fraught exercise with the objective of driving you out of business.
You want to expand the business and knock down a wall or two or rebuild entirely, council will make such a simple exercise conditional on meeting the rigours and demands of ESG.
I’m surmising that once the global digital currency is bedded down the same machinery will apply to individuals. Just like China. It will be our own version of a social credit score.
Purchasing goods and services will be subject to being turned on and off depending on your compliance.
If for example, you’ve exceeded your allocated carbon footprint and fuel purchase for the week then through the flick of a switch your ability to purchase fuel until the next cycle will be severely limited if not totally curtailed.