ESG, Inclusion, and the Failure of a Progressive Bank
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ESG, Inclusion, and the Failure of a Progressive Bank
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Many failures and mistakes contributed to the collapse of SVB, including ESG-based policies and decisions. How much harm did woke politics actually do to this bank?
From Breitbart. Oh so woke, oh so green, oh so diverse Silicon Valley Bank (SVB) just went bust. …
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What role did wokeness play in SVB’s failure?
Another term for wokeness, of course, is ESG, which stands for environmental, social, and governance. ESG is a pertinent question, as there’s a considerable body of economic literature showing that woke investments aren’t good investments. For instance, one study by professors at the London School of Economics and Columbia University finds that:
ESG funds appear to underperform financially relative to other funds within the same asset manager and year, and to charge higher fees. Our findings suggest that socially responsible funds do not appear to follow through on proclamations of concerns for stakeholders.
Shorter version: ESG makes less, costs more, and is a fraud.
Of course, if ESG investing only soothed the conscience … it might be okay. But now, as a big ESG bank goes belly up, we see the danger of systemic risk to the whole economy. That’s what happened when bank failures domino-ed back in 1929. …
Yet in the meantime, if the evidence continues to pile up that woke/ESG is bad business, then it will be hard for financial officers across the spectrum—in banks, investment houses, pension funds, insurance companies, and university endowments—to argue that they can be woke while still upholding their fiduciary duty. That duty is a heavy legal concept, containing significant civil and even criminal penalties if it is violated.
To be sure, plenty have been warning about the dangers of ESG, including House Majority Leader Steve Scalise (R-LA) and also some of those directly tasked with growing and safeguarding pension funds, such as West Virginia State Treasurer Riley Moore. There’s even a new network of right-leaning investment overseers, the State Financial Officers Foundation.
So, now expect a scramble, as all the Emperors of ESG—including Al Gore, Larry Fink of BlackRock, and maybe even Bono—rush to tell us that this is fine. …
[Back] to SVB and its fiduciary duty, which is especially extensive when it comes to federally regulated banks. (Once again, nobody wants another Depression.) Let’s consider SVB’s fiduciary duty as we go through the bank’s own statements. …
For instance, here’s an SVB headline from January 10, 2022: “Silicon Valley Bank Commits to $5 Billion in Sustainable Finance and Carbon Neutral Operations to Support a Healthier Planet.” Sounds green! But was that the best use of funds? …
All that money might have seemed great for some people … and maybe the planet … but it doesn’t seem to have been great for SVB investors and depositors. …
Of course, SVB is also big into DEI (Diversity, Equity, and Inclusion), declaring, “We’re building a culture of belonging with a global workforce that celebrates greater dimensions of diversity.” … And to get an even better sense of SVB’s DEI footprint, we might consider this (now deleted) tweet from one Christina Qi, who identifies herself as a former hedge fund CEO:
The SVB collapse has been devastating in more ways than one: They supported women, minorities, & the LGBTQ community more than any other big bank. This includes not just diverse events, but actual funding. SVB helped us move one step forward; without them, we move two steps back.
One sharp tweeter responded, “Maybe other banks will take a look at this failure and realize they need to do actual banking instead of virtue signaling.” …
How are you praying against the ESG agenda? Share this article to encourage others to pray.
(Excerpt from Breitbart. Photo Credit: Canva)
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Dear Holy Father God – May we be brave, strong and courageous and stand firm against evil. Please help more people in high positions to stand up for what is right and true and against the lies and evil. ESG comes from the father of lies, and destroys what was fair and good. Please stop all which seeks to destroy our nation. Continue, O Lord, to shine light on all the darkness that seeks to destroy Your people. We thank You for hearing and answering our prayers.
Our Creator formed the earth and all that is within. The galaxies. The moon the sun the stars. All the visible we see and invisible we do not see. This is Your world and You gave us authority to keep it Yours. Thank you for each to have grace to pray and obey effectively
Father of the universe. You are our foundation of truth and righteousness. We decree and we declare over this nation that your integrity, truth and righteousness be returned to our economic and financial system in Jesus name for your glory and your purpose
Father GOD, Provider Jehovah Jireh, we know not to trust in men or money… or men who handle our money! May your mercy be upon those innocent families who may have invested in what they thought was good and safe. Open the eyes of the deceived who worship the creation rather than YOU, our CREATOR. May those who deceive receive their just consequences. May the spending addicted government be stopped from rescuing irresponsible investors! Protect your people O God and meet our needs. Amen
Father God, I pray you would lift the veil of deception, corruption and perversion that has pervaded our nation through our federal, state and local governments, our courts and education system and also parts of our banking system. Bring us wise, and humble and godly leaders in these areas (the media also) that this nation and your people that reside here will once again have your blessing. For if your people who are called by your name, would humble themselves and pray and seek your face, you will hear from heaven and answer our prayers and heal our land! May your truth and justice be rising up in our land as we pray to you now. We also come against the woke agenda of ESG and the misleading and destructive effects it is having on our economy and society. We trust in you for you are our hope and our salvation. Amen!
Jesus the Nation called America is in a Mess, because of high spending from the Democratic woke side, of our President in the White House and the Puppets that are pulling His strings on index cards. The ESG which stands for Environmental, Social, ( socialism), govern ( Government) is leading the pack with their enticement of lies concerning these funds people are investing in. The funds are costly when purchased, they pay no payback as in dividends so if the product does not grow for the purchaser ( deep unwise choice sets in) they do not help pension funds. “ or any other retirement plans. Proverbs 21:20
NIV
20 The wise store up choice food and olive oil,
but fools gulp theirs down.” This proverb is about saving for the future. Easy credit or easy spending has many people living on the edge of bankruptcy. The desire to make a killing ( is a tech word) where a person paints a great picture of making a lot of dough, (money) -proven record not true, a true investor should buy proven recorded funds. Especially starting out. These funds were never proven because The person In the W. .H. did what the puppets said do and they did not know what they were trying to pass off except a bunch of lies. The desired agenda they are trying is many different kinds of pushes was to get people to spend every penny they earned., then stretch their credit to the limit. These are not wise people especially when government has their hand in the mix. My personal take is: Government should never be in the mix of something as personal as buying stocks or funds. The word green was a pull toy to get the interest of businesses, big corporations, etc. Steve Scalise Majority Leader has a right to be concerned about these funds being invested in retirement funds, and the discovery of monies going out to LGBTQ, if you are not assured the monies are there to keep fund prosperous, then do not give money away that belongs to investors. Gods words warns us-“ Ecclesiastes 10:13
NIV
13 At the beginning their words are folly; at the end they are wicked
madness.”If you do not believe and you take someone’s push to get you involved and this is a new product, you would probably be very foolish in participating. People have allowed their love of money to lead them into sin. In Ezekiel – Paul says the “love of money is a root of all evil” V. 23 says the land is full of bloodshed, violence, God is not pleased at the sin that is penetrating our Nation. I believe and according to scriptures Funding a LGBTQ community which is sin in Gods eyes, plus helping them fund their events is a mockery to our Father. When we abuse Gods resources selfishly, we miss Gods real purpose for life. As I researched these scriptures it clearly points out that God is very unhappy, so he has Prophetic words being spoken from Him to the Prophets that are speaking about Banks Falling, not just a couple but many who are involved with this corrupt Government and OWO. These prophetic words are being fulfilled. There are many things coming to expose What God is doing, this is just a start of some rough times coming, but God says do not FEAR in many scriptures: 2Timothy- 1-7 For God has not given us a spirit of FEAR, but of power. Pray in Jesus name-“ 2 Corinthians 4:8
New International Version
8 We are hard pressed on every side, but not crushed; perplexed, but not in despair;
when we pray give all concerns to God do not allow these banks, and what is happening with other collapsed Corporations, God is in control.! But we must get in the scriptures, this is Gods swords against the enemy, praise God, shout the enemy down using Gods words. My statement, I am praying Gods words against the ESG, God does not want the ESG, or LGBTQ, or Transgender; God just wants His children whole, happy, living an abundant lives, Praising Him and telling Him how much we appreciate and Love His son Christ Jesus. We have ownership as Christian believers so stand and take Authority over our Nation, and I also pray for Salvation to change Hundreds of un- believers to get them to know our Savior. Living a Christian Life makes me Happy and fulfilled; I want this for others. Remember to Pray the walls down. 🧎♀️😊
Father, you are indeed shaking our nation, allowing foolish leaders to head banks and make decisions, often held up by foolish government officials. We pray you would bring our nation back from the edge of destruction. May corruption and foolishness continue to be exposed and dealt with as you bring righteousness over our nation. May there continue to be cries of repentance and turning to you that you can indeed heal our nation. We praise you for your love of our country and your mercy.
Your kingdom come your will be done on Earth as it is in heaven as your word says vengeance is mine saith the Lord father God we will not fear we will not crumble we will not collapse for you are Almighty all powerful and all in charge and all above all of it you will father God you are in charge and will always deal with evilness your way because it is the best way in Jesus name I pray
I’m in agreement with the Prayers to save our country in every area
I belong to 3 credit unions where I am considered an equal owner with everyone that belongs to them. Small banks and credit unions are easier to do business with and don’t take on the wokeness ideology. Help us FATHER GOD to know what to do with the finances that YOU give us! Help us to be wise stewards of all that YOU put in our hands in JESUS NAME! Amen!
Father, You know what it will take to change people’s minds about You and about whom they worship. Lord, I do not wish for calamity to come upon this nation. I ask for Your protection against banking collapse. Lord, let the private banks arise at this hour, those who honor You and act as fiduciary agents of the people’s money. Move among us, Lord. Get the banking system out of ESG and diversity. Help us to return to solid finance principles. In Your glorious Name I ask these things. Amen.
I disagree that “nobody wants a depression“. I think there are those that would love to see America decrease in its power and authority in the world. You can’t have world governmental control with one nation that is still independent and strong. I continue to pray that Satan‘s plans will be defeated or at least delayed (God is not willing that any should perish), but I also pray that God‘s will will be done knowing that his plans will never be thwarted.
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Thank You so very much for sharing this article……It is Very Informative and we need this information to increase our understanding and to help us pray with greater clarity.
O GOD, have mercy on the United States of America…..We do not deserve it, I know, but I am crying out for the 300 plus million Americans who are caught in this, and it is not our “doing”—HELP US, O LORD.