Giant Australian retirement funds are corporate Climate Bullies Against the Wishes of Their Investors
Posted by freedomforall 7 months ago to Business
Excerpt:
"Just like everywhere in the West, the money Australian’s earn may be quietly used against them to push policies they don’t want. The Australian Retirement Trust (ART) and HESTA are using their voting rights on corporate boards to push for climate action and gender diversity. They aren’t polling their members to find out if this is what they want. They are just following The BlackRock and GFANZ banker cartel modus operandi. It is coercion, done with the illusion of “good intentions”, but in reality, aggressively self-serving behaviour. The management of HESTA and ART couldn’t care less what the owners of the money want.
ART is a $260 billion fund (Australia’s second largest) with 2.2 million members. HESTA is a $76 billion fund with nearly 1 million members who are mostly working in health and community service. Just as with the US Funds, there surely is a question of fiduciary duty. Are these funds maximizing the return for investors or are they using their money to achieve political ends that result in lower income for retirees? Environmental investors lost 22% last year when energy investors made 54%.
So for directors on a corporate board, what’s the best way to hold off the climate police and the femo-activists from voting you out? You must publicly endorse “Net Zero” and women’s rights, even if you think they are witchcraft, against the company’s interests, bad for the nation, and bad for women. Imagine what happens to board members if they dare speak their mind?
The Paris Agreement, remember, appeared to be nearly worthless at the time, yet here it is years later, being foisted in reality in corporate boardrooms. A more detailed look at boardroom politics finds that global giants BlackRock and Vanguard are voting against Australian company directors that don’t serve the multinational globalist agenda.
We all know exactly how much BlackRock and Vanguard care about Australian jobs or the energy bills Australians are paying."
"Just like everywhere in the West, the money Australian’s earn may be quietly used against them to push policies they don’t want. The Australian Retirement Trust (ART) and HESTA are using their voting rights on corporate boards to push for climate action and gender diversity. They aren’t polling their members to find out if this is what they want. They are just following The BlackRock and GFANZ banker cartel modus operandi. It is coercion, done with the illusion of “good intentions”, but in reality, aggressively self-serving behaviour. The management of HESTA and ART couldn’t care less what the owners of the money want.
ART is a $260 billion fund (Australia’s second largest) with 2.2 million members. HESTA is a $76 billion fund with nearly 1 million members who are mostly working in health and community service. Just as with the US Funds, there surely is a question of fiduciary duty. Are these funds maximizing the return for investors or are they using their money to achieve political ends that result in lower income for retirees? Environmental investors lost 22% last year when energy investors made 54%.
So for directors on a corporate board, what’s the best way to hold off the climate police and the femo-activists from voting you out? You must publicly endorse “Net Zero” and women’s rights, even if you think they are witchcraft, against the company’s interests, bad for the nation, and bad for women. Imagine what happens to board members if they dare speak their mind?
The Paris Agreement, remember, appeared to be nearly worthless at the time, yet here it is years later, being foisted in reality in corporate boardrooms. A more detailed look at boardroom politics finds that global giants BlackRock and Vanguard are voting against Australian company directors that don’t serve the multinational globalist agenda.
We all know exactly how much BlackRock and Vanguard care about Australian jobs or the energy bills Australians are paying."
