(SNews) – Elon Musk has commented that the “environmental, social, and governance” (ESG) criteria being pushed by the World Economic Forum (WEF) is “satanic.”
Musk was responding to a Twitter thread by independent journalist Michael Shellenberger, who has recently been tasked with documenting the “Twitter Files.”
Shellenberger was discussing the WEF’s efforts to advance the radical corporate ideology.
On Sunday, Shellenberger posted a thread about the WEF’s secretive finances.
He noted that the WEF, German economist Klaus Schwab’s controversial organization, utilizes “woke” ESG criteria.
Musk responded by commenting that “the S in ESG stands for Satanic.”
The S in ESG stands for Satanic
— Elon Musk (@elonmusk) January 16, 2023
Business leaders committed to the ESG movement vow to pursue energy initiatives that align with the WEF’s “green agenda.”
ESG establishes diversity quotas for managerial staff and urges corporations to blend the maximization of profits with advancing the political and social agendas favored by leftists.
The dismal stock market performance of ESG funds last year has been cited by critics as evidence that the movement presents unnecessary risks to investment performance.
Harvard Management Company, which controls the elite university’s endowment, admitted that a recent $2.3 billion loss was attributable to fossil fuel divestment efforts.
However, the organization said in a letter to members of the Harvard community that it remains “proud to be deeply engaged in the issue of sustainability.”
Musk, who currently serves as chief executive of Tesla, SpaceX, and Twitter, has repeatedly blasted ESG ratings.
Last year, for instance, he noted that S&P Global provided oil and gas conglomerate ExxonMobil with a stellar ESG score.
Meanwhile, Tesla, which claims a mission of reducing climate change through electric vehicles, did not make the list.
“ESG is a scam,” Musk concluded.
“It has been weaponized by phony social justice warriors.”
Exxon is rated top ten best in world for environment, social & governance (ESG) by S&P 500, while Tesla didn’t make the list!
ESG is a scam. It has been weaponized by phony social justice warriors.
— Elon Musk (@elonmusk) May 18, 2022
Scammers have indeed taken advantage of investors’ appetites for socially conscious companies.
Elizabeth Holmes, the founder of the defunct healthcare venture Theranos, garnered widespread recognition as one of the most successful female entrepreneurs in Silicon Valley history before she was sentenced to federal prison on various fraud charges.
Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX who lost billions in customer assets through his trading firm, admitted to a reporter that ESG has been “perverted beyond recognition.”
He boasted that he generated trust among “woke Westerners” by emphasizing his self-professed “effective altruism.”