Plain Talk: ESG investing could downgrade North Dakota’s credit rating

Minot, N.D. — The ESG movement in venture capitalism – the acronym stands for “environment, social, and governance” – is a threat to North Dakota’s economic well-being, but not just in the way you might be imagining.

Our state’s primary industries — energy and agriculture — are also carbon-heavy industries, which is why our state runs afoul of the “environment” part of ESG. Our state is investing big money into improving the environmental impact of our industries — we created, for example, the clean and sustainable energy fund which is driving money into things like carbon capture projects — but the ESG movement isn’t terribly pragmatic.

It’s very ideological, viewing only certain types of renewable energy as satisfying the “environmental” component of it the platform.

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Rob Port is the editor of SayAnythingBlog.com, a columnist for the Forum News Service, and host of the Plain Talk Podcast which you can subscribe to by clicking here.

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