The CEO of the country’s top investment bank has ripped President Joe Biden and ‘woke’ corporate leftists who insist on pushing environmental, social, and governance investing — known as ‘ESG’ — insisting that investors do not care about such ‘wokeness.’
Jamie Dimon, who heads up JPMorgan Chase — which is also making significant efforts to advance ESG — made a number of remarks during an investor seminar in Washington, D.C., last week that was closed to the press, talking about geopolitical realities as well as the country’s present leadership, as the New York Post confirmed.
Among other assertions, he said that “investors don’t give a s***” about ESG and advised that corporate governance should not be “ceded” to “do-gooder kids on a committee.”
The Daily Wire noted:
Companies that subscribe to the ESG movement might set quotas for racial diversity among executives, establish climate objectives, or otherwise blend leftist social movements with profitability. An exclusive poll from The Daily Wire showed that American investors would prefer that companies commit solely to the pursuit of profits, with 58% of respondents agreeing that companies leveraging their power for political or social ends is a “bad thing.”
But JPMorgan Chase has committed more than $2.5 trillion over the course of the next decade to “advance long-term solutions that address climate change and contribute to sustainable development” to meet global emissions objectives by 2050, according to the bank’s website, where Dimon is quoted as saying, “climate change and inequality are two of the critical issues of our time.”
The leading bank executive, who is considered one of the most influential on Wall Street, appears to have changed his mind recently, however. At the seminar, he said, the “President of the United States needs to stand up and say we may not meet our 2050 climate objectives because this is a f***ing war” in Ukraine. He also allegedly said that it is “time to stop going hat in hand to Venezuela and Saudi and start pumping more oil and gas in the USA.”
“I think we’re getting energy completely wrong, which is, you know, ever since this war started, you know that Europe is going to have a problem,” Dimon added. “And that it was pretty predictable that Putin was going to cut off some gas and some oil, and oil prices would go up.”
Shortly after he took office, Biden canceled the Keystone XL pipeline and has cut oil and gas leases on federal lands, while also walling off massive swaths of the country to prevent more oil and gas exploration. Such policies have been blamed for ramping up gasoline and diesel fuel prices, as well as costs for natural gas and heating oil — all of which have driven inflation.