Jamaal Bowman Pulls the Alarm: The NFL is 'Afraid' of Shedeur Sanders Because...
'Been Owed This for 5 Years'! Scott Jennings Calls Out Randi Weingarten's Lies...
Up Next for Dem Sen. Chris Van Hollen: Margaritas With Judge Dugan?
Massive Explosion Rocks Iranian Port of Bandar Abbas Causing Widespread Damage, Injuries (...
'This Is a Crime'! CNN Legal Analyst Throws a Wrench In Dems' Narrative...
Milwaukee Democrat Rep Encourages People to Obstruct ICE from Arresting Criminal Illegal A...
Scott Jennings Schools CNN Panelists on Why an Activist Judge’s Arrest Had to...
FOIA Revelation: Biden White House Labeled Libs of TikTok and Gays Against Groomers...
Ken Dilanian Loved Going After Trump but Thinks Arresting Judges Who Break the...
As More Activist Judges Get Arrested Let’s Remind Democrats that ‘No One Is...
Writer and Pop Culture Expert Says Draft Overlooking Shedeur Sanders is Like Whipping...
Epstein Accuser and Abuse Survivor Virginia Giuffre Found Dead by Suicide
Jamie Raskin is OUTRAGED that a Judge Could Face Justice for Allegedly Helping...
Kash Patel's 'No One Is Above the Law' Judicial Perp Walk Pic Is...
Guy Benson Questions 'Dill'-emma: Friend Ousted from Pickleball League Over Politics

Gov. Ron DeSantis drops the hammer on ESG funds

Florida Gov. Ron DeSantis announced new restrictions limiting the State Board of Administration from considering political factors — Environmental, Social, and Governance (ESG) — when investing the state’s money:

Advertisement

Ka-boom:

Gov. DeSantis is so far ahead of anyone else in the GOP right now it’s scary:

Watch here:

And this move comes at a time when the whole ESG (scam) is beginning to unravel:

Elon Musk has often criticized ESG. . .

. . .and how it’s been “weaponized by phony social justice warriors”:

Advertisement

Boy, it’s funny how one cold winter will upend years of ESG compliance!

And there are real-world implications to ESG implementation, especially in the shipping industry. From gCaptain:

In summary, shipping companies need to slow down their fleets to meet ESG targets but what this does is create a “massive reduction in fleet capacity”:

While older ships can be retrofitted with devices to lower emissions and meet EEXI requirements, analysts say the fix most ship owners will take is just to go slower, with a 10% drop in cruising speeds slashing fuel usage by almost 30%, according to marine sector lender Danish Ship Finance.

“They’re basically being told to either improve the ship or slow down,” said Jan Dieleman, president of Cargill Ocean Transportation, the freight division of commodities trading house Cargill, which leases more than 600 vessels to ferry mainly food and energy products around the world.

This strategy also reduces the amount of wear and tear on the vessel, which can help extend the life of the ship. But there is one ancillary effect: a potentially massive reduction in fleet capacity.

Advertisement

And an unnecessary reduction in capacity could make the current food and energy crisis worse:

While the Index is designed to motivate shipowners and operators to invest in energy efficiency measures, it comes with unintended consequences. Most notably, slowing down ships to improve their energy efficiency could worsen the global food and energy crisis. The IMO and Poseidon Principles signatories should carefully reconsider their allowance for slow steaming and take into account humanitarian food and energy concerns when calculating ESG scores.

There is still time to avoid exacerbating the current food and energy crisis – it may even be possible to avoid famine and reduce carbon emissions – but it will require either the temporary abandonment of decarbonization goals – which would be a hard pill for the industry to swallow – or brave leadership from someone like Gary Vogel and the inclusion of humanitarian, food, and energy concerns in an already complicated set of ESG indexes and Poseidon Principles.

***

Join the conversation as a VIP Member

Recommended

Trending on Twitchy Videos

Advertisement
Advertisement
Advertisement