ESG mandates, like so many other government mandates before it, are always offered up as harmless tweaks on the path towards social enlightenment, free from cost or ill intent that will make the markets work better. Of course, the reality is the exact opposite. Mandates like ESG distort markets, drive up costs of products, reduce consumer options, create scarcity and misalign investment capital. Made up metrics like ESG scorecards are created to determine which companies are in the good graces of left wing activists. (02:57–03:10)
CLAIM
Asserts that ESG mandates negatively impact markets by increasing costs and reducing options.
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