Calling all asset managers , mid - level bank employee , and financial sustainability advocate : You ’re in league with the Devil , according to Utah ’s State Treasurer .
“ Outcomes - based governance like the UN ’s [ Sustainable Development Goals ] and ESG opens the door to monocracy , ” Oaks said . “ It is Satan ’s plan . ”
Oaks ’ officetold the Salt Lake Tribune in an emailthat the Treasurer ’s “ use of scripture was an attempt to speak to an interview that might understand the example and illustrate the problem with system that attempt to push outcomes on everyone . His oppositeness is to coercion as a mechanics in company . ”
Marlo Oaks gives a talk on ESG at the Heartland International Conference on Climate Change.Screenshot:Gizmodo / YouTube
We reach out to Oaks ’ role for further input . In an e-mail , a representative restate what his part said to the Tribune and said that Oaks ’ “ opposition to ESG is not enemy to the underlie issues addressed by ESG . ” oak has a sis who was affected by the California wildfires , the representative wrote , but Oaks says that ESG “ will not lead in solutions to environmental and societal challenges . It may help oneself some people feel honest about their investiture , but its coercive nature should scare us all . ”
It ’s hard to imagine a world in which anyone would think that the relatively benign practice of ESG , once the purview of greenwashy shareholder reports , is somehow the demon ’s body of work . Yet the Republican party has ramped up its state of war on ESG over the past few old age to a pyrexia pitch , enact a slew ofanti - ESG state laws , try tomake federal laws against it , and make opponent to ESG acenterpiece of their anti - leftover political orientation . It ’s not particularly surprising that we ’ve reached this point . ( Through his representative , Oaks say that ESG ignores “ the very real human cost of boycotting fossil fuels ” and that its “ coercive tactics ” mean that “ capital is not going to where it would normally go — to profitable projects in the oil and accelerator industry . ” )
This is n’t the first time Oaks has talked about ESG ; on the wayward , serious ol’ Marlo is kind of obsess with ESG . His Facebook page hasmultiplefliersadvertising various talks he ’s given on the topic since 2021 . oak rise to the top of the pyramid for climate denier this year : he gave atalk titled “ The Dangers of ESG”at the Heartland Institute ’s International Conference on Climate Change , where he was introduced as “ an absolute drawing card on ESG outlet . ” ( One of the slides in the 45 - minute introduction was titled “ ESG and TYRANNY ” and let in a picture of Hitler . )
Unlike a lot of the blowhards who wax poetic about the evils of ESG on Fox News , Oaks is a guy who is actually materially involved in determining the finances of an entire state — and he ’s put the state ’s money where his mouth is . Last fall , oak go as far as todivest $ 100 million of state public fundsfrom BlackRock to other investment funds managers . ( A spokesperson for the large state retreat systemtold the Tribuneit still had around $ 6.8 billion sitting in BlackRock management , with no alteration being made for ESG - related reasons . )
During his late speech , Oaks also claim that the UN ’s Sustainable Development Goals “ have wide been blow by UN leaders as the master plan for humankind ” and were partially created by the Chinese Communist Party . Oaks ’ business office sent the Tribune articles to back up this claim that were from the Epoch Times , a paper tie in with the Falun Gong spiritual craze that has been known tospread correct - offstage conspiracy theories and misinformation .
We asked oak ’ power to render us with grounds that the UN Sustainable Development Goals were created by the CCP that was not from the Epoch Times . The office sent links to a report citingChinese financial backing in UN initiatives , as well as twoUNreportson task tied to China ’s Belt & Road Initiative .
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