re: Merrill Lynch Assigns “Environmental, Social and Governance” (ESG) Scores to Rate Customer

quote:

---

It is incredibly stupid business to piss off your customers or clients.

---

Apparently I was living under a rock while these scores became a thing.

Unfortunately, I believe they will become universal.

Having low scores will be a serious vulnerability. You might be attacked by left wing extremists, or the government may attack you. Both represent serious and fundamental business risks.

Corporations will want to be rated to assess their exposure, at the same time, they’re also buying good scores. Merrill will find ways to puff up their clients and make them look good.

State governments need to ban them.

-

In Saint Petersburg, after the Tsar stepped down, the radicals distributed ribbons for people to wear. They were a way to show your allegiance to revolutionaries.

Normal people, and even government ministers, took to the ribbons in droves.

It wasn’t that they believed in the cause, or that they were socialists, they were just afraid, and they hoped the ribbons would protect them from the thugs in the street.