Environmental, Social, and Governance. (ESG)
The acronym stands for a company management plan to do nice
things for the environment, social something or other, and governance, a scheme
were company management abandons traditional company goals, and aims for
environmental and social goals.
The American corporation has been fantastically successful
over many years. Corporations produce
goods and services, at very good prices and in vast quantities. Earnings are solid, and are shared between
share holders and workers. Most
Americans work for corporations and get their health insurance from the
corporation that employs them. American
corporations are an important part of American economy and well being.
We should not mess
things up with ill considered changes that might throw us out of work and
cancel our health care.
Right now successful corporate managers concentrate on
improving the corporate production (automobiles, aircraft, tools, house wares
and other stuff) (producing services such as communication (cell phone, TV,
newspaper, more economically) or providing transportation (railroads and
airlines) more economically.
Do we want corporate management to stop this beneficial
activity and start tending the environment, the social feelings of just about
anybody, and setting up governance that locks the corporation into activities
that do not improve the company bottom line?
And instead of divvying up
corporate profits between share holders and worker, ESG would grab off a good
chunk of corporate revenue to support the Green Nude Eel and deny the money to
workers and stock holders.
I think we should stick with the corporate governance that
has paid us such solid dividends over many years. Work on getting costs down and quality
up.