JUST IN: 22 State Attorneys General are calling out the major ratings agencies for continuing to push the ESG agenda, in defiance of the Trump Administration's stated goal of driving the woke agenda out of both the public and private sector 👇
The AGs, led by
@MTAGKnudsen, have sent a letter to the SEC calling out the major ratings agencies, such as
@MoodysRatings,
@FitchRatings, and
@SPGlobalRatings, for specifically continuing to use the thoroughly discredited Representative Concentration Pathway 8.5 scenario (RCP 8.5).
RCP 8.5 isn’t a real metric and it doesn’t “predict” emissions — it's a worst case "what if" scenario for concoted by climate alarmists, that's been thoroughly discredited and "retired" due to serious errors.
However, the rating agencies are still using it in an effort push insurers, lenders and investors towards basing decisions on dire climate predictions and thus conforming to activists ESG dictates.
The AGs make clear that the rating agencies failure to cease use of the now retracted RCP 8.5 warrants escalated enforcement and a referral to the SEC Office of Credit Ratings.
I couldn't agree more. These woke ratings agencies continue to push ESG policies and blatantly ignored calls for the removal of woke ideology from their business practices. Instead of providing legitimate financial analysis for its customers they continue to rely on ESG-driven metrics, even after they have proven to be implausible.
@ConsumersFirst applauds the state AGs for taking a stand and not letting the rating agencies get away with continuing to use politically motivated and biased materials that promote a woke agenda over consumers.