Judd Legum

Judd Legum @JuddLegum

"A separate five-strikes policy extends even to gun sellers and purchasers who actively call for violence or praise a known dangerous organization, according to the documents." — PolitiTweet.org

Judd Legum @JuddLegum

"Facebook prohibits gun sales on its service. But buyers and sellers can violate the rule 10 times before they are kicked off the social network, according to internal guidance obtained by The Washington Post." https://t.co/FNFBViTX6j — PolitiTweet.org

Judd Legum @JuddLegum

12. The ESG industry says it can't disclose emissions data to investors because some companies don't disclose emissions data. Which raises the question: WHY ARE YOU INCLUDING COMPANIES THAT DON'T DISCLOSE THEIR EMISSIONS IN A CLIMATE FUND? https://t.co/Hmtp3mtqeJ — PolitiTweet.org

Judd Legum @JuddLegum

11. Funds that claim they are focused on climate, for example, would be required to disclose how the emissions of the companies included in the fund The ESG industry has already come out in opposition to the rule, calling it "unworkable" https://t.co/Hmtp3mtqeJ — PolitiTweet.org

Judd Legum @JuddLegum

10. The SEC recently proposed a rule that would create standards around the ESG industry. It would require consistent disclosure justifying ESG claims, including relevant metrics https://t.co/Hmtp3mtqeJ — PolitiTweet.org

Judd Legum @JuddLegum

9. Were you interested in this thread? Hey, you made it this far. Prediction: YOU'LL BE EVEN MORE INTERESTED IN OUR NEWSLETTER. ✅ More accountability journalism ✅ More in-depth research ✅ More punctuation And ✅ It's free to sign up https://t.co/TfpCItdVSo — PolitiTweet.org

Judd Legum @JuddLegum

8. The other difference is that @BlackRock is able to charge higher fees for its ESG funds than for other funds. And BlackRock is incorporating its "ESG" funds into its influential model portfolios that are used by scores of financial advisors https://t.co/Hmtp3mtqeJ — PolitiTweet.org

Judd Legum @JuddLegum

7. @BlackRock is one of the biggest players in the ESG industry. One of BlackRock's funds, ESG Aware, largely tracks the S&P 500 except ESG Aware is "more heavily weighted in 12 fossil fuel stocks than the actual S&P 500." https://t.co/Hmtp3mtqeJ — PolitiTweet.org

Judd Legum @JuddLegum

8. Bloomberg recently looked at 155 ESG ratings upgrades between 1/20 & 6/21. Only ONE upgrade cited reducing emissions as the primary reason 51 companies received upgrades for "governance" improvement, including banning activity that is already a crime https://t.co/Hmtp3mtqeJ — PolitiTweet.org

Judd Legum @JuddLegum

7. @McDonalds got an upgrade because of the "installation of recycling bins at an unspecified number of locations in France and the U.K." This reduced the company's regulatory risk in those countries, which require recycling. https://t.co/Hmtp3mtY4h — PolitiTweet.org

Judd Legum @JuddLegum

6. Why? MSCI determined that emissions were unlikely to impact @McDonalds bottom line because most of its emissions come from its supply chain It's not measuring @McDonalds impact on the world It's measuring how enviro regulations might impact profits https://t.co/Hmtp3mtqeJ — PolitiTweet.org

Judd Legum @JuddLegum

5. @McDonalds, for example, is responsible for more greenhouse emissions than Portugal or Hungary And its emissions are INCREASING But MSCI recently upgraded @McDonald's environmental rating https://t.co/Hmtp3mtqeJ — PolitiTweet.org

Judd Legum @JuddLegum

4. In other words, nearly every stock is an ESG stock. How does this happen? MSCI doesn't measure the impact a company has on the earth and society. It measures the potential impact of the world on the company. https://t.co/Hmtp3mtqeJ — PolitiTweet.org

Judd Legum @JuddLegum

3. Most funds rely on third parties that assign ESG ratings to corporations. The most popular rating service is MSCI "Almost 90% of the stocks in the S&P 500 have wound up in ESG funds built with MSCI’s ratings." https://t.co/Hmtp3mtqeJ — PolitiTweet.org

Judd Legum @JuddLegum

@elonmusk 2. ESG stands for "environmental, social, and governance." But what kind of stocks are included in ESG funds? There are no rules. The fact that a company's stock is included in an ESG fund can mean virtually anything. https://t.co/Hmtp3mtqeJ — PolitiTweet.org

Judd Legum @JuddLegum

1. Something I agree with @elonmusk on: the multi-trillion dollar ESG industry is, for the most part, a scam 🧵 https://t.co/Hmtp3mtqeJ — PolitiTweet.org

Judd Legum @JuddLegum

@7NewsDC Are you really going to run this “Flood Warning” at the bottom of the screen for an entire NBA Finals game? — PolitiTweet.org

Judd Legum @JuddLegum

If Paxton was really concerned about the impact of fake social media accounts on the people of Texas, it's strange he also didn't start an investigation of Facebook or Snapchat or TikTok or any other social media company https://t.co/EZWfbN9uUD — PolitiTweet.org

Judd Legum @JuddLegum

It was obvious, but Paxton just admitted that it launched an investigation into Twitter bots BECAUSE OF ELON MUSK This is part of a broader trend of Republican officials deploying the power of the state to curry favor with Musk https://t.co/EZWfbN9uUD — PolitiTweet.org

Judd Legum @JuddLegum

America doesn't have more mental health issues than other countries. It has more guns. — PolitiTweet.org

Judd Legum @JuddLegum

Absolutely outrageous that two United States Senators would encourage people to invest their RETIREMENT FUNDS in bitcoin. Just wildly irresponsible. — PolitiTweet.org

Judd Legum @JuddLegum

"A spokeswoman for Florida Gov. Ron DeSantis (R) this week registered as a foreign agent of a former president of Georgia, Mikheil Saakashvili, belatedly detailing work she performed for the politician between 2018 and 2020." https://t.co/Qg3O4GbBki — PolitiTweet.org

Judd Legum @JuddLegum

If there is an investigation into AN ATTACK ON THE UNITED STATES CAPITOL and you feel compelled to issue A REBUTTAL you are telling on yourself — PolitiTweet.org

Judd Legum @JuddLegum

RT @dgelles: The vast transfer of the collective wealth created by corporations to the few executives who run them is the story of our time… — PolitiTweet.org

Judd Legum @JuddLegum

4. @Lowes spent $13 billion on stock buybacks in 2021. With those funds "the company could have given each of its 325,000 employees a $40,000 raise." Instead, "median pay at the company fell 7.6 percent to $22,697" The CEO of Lowes was paid $17.9 million https://t.co/ZRbf2ye1FM — PolitiTweet.org

Judd Legum @JuddLegum

3. Among the 106 companies with wages that did not keep pace with inflation, 67 "spent resources buying back their own stock, a maneuver that inflates executive stock-based pay." These companies collectively spent $43.7 billion on share repurchases. https://t.co/ZRbf2ye1FM — PolitiTweet.org

Judd Legum @JuddLegum

2. A new study by @IPS_DC of 300 publicly traded companies found that, in 2021, they increased CEO pay by $2.5 million and worker pay by $3500. At 106 of these companies, wage increases did not keep pace with inflation. https://t.co/ZRbf2ye1FM — PolitiTweet.org

Judd Legum @JuddLegum

1. 2021 could have been a banner year for workers. Instead corporations fixated on boosting CEO pay and inflating stock prices with buybacks. 🧵 https://t.co/ZRbf2ye1FM — PolitiTweet.org

Judd Legum @JuddLegum

RT @CREWcrew: AT&T has donated at least $1,052,000 to anti-LGBTQ politicians since 2021. Deloitte has donated at least $843,400. Verizon… — PolitiTweet.org

Judd Legum @JuddLegum

Greenwald's take on January 6 is aging poorly https://t.co/XgX8lrKFWh — PolitiTweet.org