Thanks for raising this issue.

My understanding is that, at least in large corporations, any business leader who rejects this new system of ideologically derived ESGs, which are effectively forced on all large companies by fund managers like BlackRock, will risk being ejected from their companies if they do not support them. It is said that BlackRock, Fidelity and State Street fund manages own all global corporations. They do not own the value of these companies of course because that rests with their investors but they do own the voting rights on the shares they have purchased using their investors money. This confers an outsized degree of control over the composition of the boards of directors of these companies to a frightening degree. It seems like a form of corporate communism which has taken over the business world and of course this has a big impact on ethical and moral decisions. I do not know what the answer is to this threat but it sure seems like a huge issue particularly as companies & their executives are ‘policed’ on their ESG performance by BlackRock.