WOKE WEDNESDAY: Anti-anti-anti-anti woke news, an absurdist good game, a clip from the great Nell Minow, and a word from our sponsor ESGauge
Live from a Damion’s hazelnut coffee edition of Business Pants. It’s a woke wednesday! I’m your Analyst-Hole Matt Moscardi, and I’m joined live and in person by Hazelnut Rallis!! In today’s anti-anti-anti-anti-ANTI woke episode called November 8, 2023: An anti woke roundup, a quick good game, a clip from our interview with the Great Nell Minow and a word from our sponsor!
Our show today is being sponsored by ESGauge ,your ESG data solutions provider. Paul will stop by to talk pay ratios in a minute.
MATT1
Anti-woke roundup
BLACKROCK DISCRIMINATION ALERT
While I wait for Bill Ackman to stop harassing 19 year olds with dumb opinions on social media, I saw this headline: Five companies added to Texas' divestment list for ESG, anti-oil and ... - Fairfield Sun Times
Texas comptroller Glenn Hegar said, “I am extremely proud that Texas was the first state to show leadership by shining a bright light and bringing transparency to this absolutely critical issue,” - that issue being the boycott of fossil fuels
The list added the following companies: AMP Limited, Credit Agricole SA, IMPAX Asset Management Group PLC, Rathbone Investment Management Ltd., and Societe General SA
Now the complete list is 15 companies long, and BlackRock is the only US company on it - every other company is European or Australian.
If only Bill Ackman could stop the obvious anti-semitism that is boycotting a Jewish lead US asset manager
Also, oops…
Oil and gas companies spill millions of gallons of wastewater in Texas
Here’s your fun line from the article: A lot of this toxic water, just like crude oil, tends to get spilled. Not just occasionally, but hundreds of times a year.
Oil and gas companies are currently discriminating against Texas land
SBTI FUN
The House Committee on Science, Space, and Technology continues its investigation in the SBTi in an attempt to strip out any sort of carbon regulation of suppliers
They announced a hearing next week on November 14 where the only witness is Andrew Mayock, the Federal Chief Sustainability Officer for the Council of Environmental Quality.
It marks the first time anyone cared about the Chief Sustainability Officer
The plan is to grill Mayock, who has 25 years in the Obama and Clinton administrations at the OMB, with stints at McKinsey, the treasury department, and Booz Allen
The prior hearing was attended by none people and accomplished none things, but the effort to kill any effort to decarbonize continues in the Science committee
Meanwhile, in anti-ANTI-woke news: France Bans Fossil Fuel Companies from Responsible Investment Labelled Funds
The French Ministry of the Economy and Finance launched the SRI label in 2016
1,200 funds, representing more than €770 billion of assets under management, utilize the SRI label
SRI-labelled funds will be required to exclude companies that exploit coal or unconventional hydrocarbons, as well as companies that launch new oil and gas exploration, production or refining projects
ANTI-ANTI-WOKE BOYCOTTS!
Before we get to Nell talking about the anti-woke movement and a bit of her experience in Congress, we’re going to play a mini pointless Good Game. Five headlines, rate from 0-10
