ESG Criteria: Concerns

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For those of you who are not familiar, ESG (Environmental, Social, Governance) criteria are a set of standards for companies to screen potential investments. This enables them to make informed decisions on the companies or individuals they are investing in.

Environmental criteria consider how a company performs as a steward of nature.

Social criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates.

Governance deals with a company’s leadership, executive pay, audits, internal controls, and shareholder rights.

It is arguable that Bitcoin presents issues in all three criteria. Particularly Governance in the eyes of ESG.

ESG has been around since 2006, and for a while, major companies found it laughable to follow such restricting standards. ESG companies even found it harder to survive when they were being outpaced by entities that could invest their money as they pleased.

Larry Fink, the big man at BlackRock, recently met with other financial giants at the World Economic Forum and discussed ways they will standardize these criteria and make it challenging to survive for those who don't adhere.

If you are familiar with CoinBureau (loves alts) then you may have seen his video on ESG and how much of a threat it poses to Bitcoin in particular. In his video, he goes into great detail discussing Bitcoin's potential Environmental, Social, and Governance issues in the eyes of ESG. The video is very informative and well researched, so I recommend taking the time to watch it. (Link at the bottom)

In my attempts to dismiss it as FUD, I went to the comment section of the video to see what his viewer base had to say. As expected, it's just a bunch of fanboys telling him about how quality his content is with minimal discussion of the discussed topics.

I want to discuss this further here.

Kevin O'leary stated on the What Bitcoin Did podcast that the May crash from our ATH was not due to China's infamous ban. He suggests it was ESG concerns over Bitcoin's environmental concerns. He explains that Tesla dropping Bitcoin payments was not because governments threatened to pull carbon credits, like many thought. In reality, it was ESG issues brought to him by ESG rating companies.

Could something like ESG criteria bring issues to Bitcoin?

Are all of Bitcoin's potential issues surrounding Environmental, Social, and Governmental factors in the eyes of ESG legitimate or just FUD?

ESG Video: https://www.youtube.com/watch?v=zVxiFEzCp2U

[pooya87]

Are all of Bitcoin's potential issues surrounding Environmental, Social, and Governmental factors in the eyes of ESG legitimate or just FUD?

They are not "issues" they are how the world works. Each time you start your car you are polluting the environment even if it is an electric car but still there are 1.446 billion vehicles on Earth in 2021 polluting our world every second of every day.

Kevin O'leary stated on the What Bitcoin Did podcast that the May crash from our ATH was not due to China's infamous ban. He suggests it was ESG concerns over Bitcoin's environmental concerns.

Nobody even follows these things for their statements to have any effect on bitcoin price.
Let me ask you this, how do they explain the rise, did their "concerns" magically go away that "let" that price to rise?

It looks like every idiot is trying to take credit for their market speculation one way or the other. These idiots are saying their statement caused the drop, Musk is saying his trolling tweets caused it, FUDsters are saying China ban did it, Hash-nuts are saying hashrate drop caused the price drop, Stock bagholders are saying bitcoin follows stock market, and all sorts of crazy crap.
The reality was that the drop was simply panic sell and market manipulation after reaching a new ATH.

He explains that Tesla dropping Bitcoin payments was not because governments threatened to pull carbon credits, like many thought. In reality, it was ESG issues brought to him by ESG rating companies.

That is total B.S. People do spend their bitcoin but nobody is willing to spend large amounts of what they've accumulated through blood, sweat and tears. They had to pay $39,990 – $129,990 (1.3 to 4.3 BTC at the time) for a Tesla!

In other words adding bitcoin payment option was a stupid move in first place because it had no demand in their business so they had to remove that option.