LTP News Sharing:
Investor-research firm Morningstar “thinks it can get away with expressly treating all non-leftist shareholder proposals as ‘anti-ESG,’ and advising its clients to oppose such initiatives – thereby revealing that it places the political policy preferences of the company’s elite over the financial best interest of people who buy investment advice from the company,” writes Free Enterprise Project (FEP) Director Scott Shepard in his latest commentary for Real Clear Markets.
The column also uncovers Morningstar’s “covert” and “ugly anti-Israeli bias,” with Scott explaining that “Morningstar is a covert carrier of the BDS (boycott, divest and sanction) virus.”
Scott explains how Morningstar’s “acquisition and use of Sustainalytics” to rank public corporations according to their adherence to ESG is likely the source of Morningstar’s anti-Israel bias because of Sustainalytics’ “exclusive reliance on deeply biased sources: in this case, deeply anti-Israeli organizations such as Who Profits, Human Rights Watch and Amnesty International.”
This tool “establishes inherently biased metrics that, even when applied neutrally, create profoundly bigoted responses,” Scott continues.
“Investors of all sorts, as well as regulators, would be wise to look further into Morningstar and other partisan ‘ESG’ peddlers,” he writes.
To read the full piece, click here.
Author: Ethan Peck