Wall St ESG MADNESS | AU Police Taser a 95 year old woman | RISE to the Occasion

Prominent US asset managers, private equity firms, and brokers, including BlackRock, Blackstone, KKR, and T Rowe Price, have identified backlash against sustainable investing as a material risk to their profits. The acknowledgement came in recent annual reports, which cautioned that "divergent views" and "competing demands" on environmental, social, and governance (ESG) investing could harm financial performance.

The change was triggered by a campaign against what critics call "woke capitalism," supported by top Republican politicians like Senate minority leader Mitch McConnell and Florida governor Ron DeSantis. State-led investigations into firms like BlackRock and State Street over ESG-related shareholder proposals, as well as laws forcing government pension funds to divest from managers considering climate or racial equity issues, have fueled the backlash.

Blackstone revealed that state-level scrutiny of potential "boycotts" against the fossil fuel industry might influence fundraising and revenues. Private equity firms Carlyle, TPG, and Ares also reported that anti-ESG legislation could obstruct fundraising.
Anti-ESG sentiment was cited by BlackRock CEO Larry Fink as a reason for Republican state treasurers withdrawing around $4 billion from the company. Opposition to ESG has also been flagged as a risk by companies that haven't faced political criticism, such as T Rowe Price and Raymond James. Additionally, data provider Morningstar, which owns an ESG ratings business, stated it has had to expend resources to respond to political inquiries about its ESG practices.

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Colombian President Gustavo Petro has withdrawn his previous claim that four Indigenous children, who had gone missing after a plane crash more than two weeks ago, had been found alive in the Amazon. Initially, Petro had declared on Twitter that the children, one of them an infant, were discovered after intensive search efforts by the military.

The kids were on board a plane that suffered an engine failure on May 1, which was traveling between Araracuara and San Jose del Guaviare. The crash resulted in the deaths of the three adults aboard, but it was speculated that the children might have survived.

Petro's premature announcement led to considerable confusion as it lacked details about the circumstances of the supposed rescue and was not confirmed by the military.

The President later explained that he had received the information from the Colombian Family Welfare Institute (ICBF), but the rescue teams had yet to verify it. ICBF confirmed that it had indeed relayed a report about the children being found alive and in good health, prompting the president's communication.

Meanwhile, the military continued its exhaustive search, hindered by harsh weather and treacherous terrain. The operation involved over 100 soldiers, sniffer dogs, and three helicopters, broadcasting a message from the children's grandmother urging them to stop moving.

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Whitney Webb interview: https://www.youtube.com/live/cOS8dqBuZe4?feature=share
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