Editorial Board: “Just a reason for Oaks’ fellow Republicans, and fellow investors, to ignore him as much as possible and lead their party, and our economy, in a more responsible direction.”
Utah Treasurer Marlo Oaks at the Utah Republican Party election night party at the Hyatt Regency in Salt Lake City on Tuesday, Nov. 8, 2022.When calling out those who foolishly start a panic by shouting “Fire!” in a crowded theater, one should be careful not to start a rival, perhaps even larger and more irrational, stampede.with a spiel in which he says a widespread movement to measure the wisdom of investments by something other than just short-term financial gain is the work of Satan.
Sadly there are many others, up to and including Utah Gov. Spencer Cox and Attorney General Sean Reyes, who are also taking a stand against ESG investing. If in slightly less apocalyptic language.in support of a move in Congress to ban pension funds from so much as considering ESG factors in their investments. This is a call for government meddling in the marketplace that Cox and company might normally be expected to oppose.
ESG may or may not be a successful investing strategy. It may or may not be a genuine effort to promote the sustainable over the boom-and-bust. Or an attempt to appear to be green and responsible even as a particular investment firm continues to put money into Alaska oil and African rare Earth mines.
There is a risk, perhaps, that by calling attention to Oaks and his utterly absurd, Bible-thumping warning about threats that exist only in an increasing number of fevered imaginations, this bushwa will only gain currency.
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