The next level of idiocracy in asset management becomes apparent when you read how the head of responsible investment of Dutch PGGM €268 billion, Piet Klop, explains how Environment, Social, and Government (ESG) programs now must be calibrated by Sustainable Development Goals (SDG) to make sense.
For my non-dutch speaking audience, the loose translation from the Dutch title of this blog is a wordplay of how Klop’s wonderings do not (niet) make any sense (klopt).
The manufactured foolery in finance continues to haunt humanity, for asset owners and managers, more than politics, through their investments define the fractal of human expansion. In the U.S., just three asset management firms manage $22 Trillion, roughly the equivalent of our GDP, wielding extraordinary power.
Asset management firms do so without any adherence to a human theory, system, and rules calibrated by nature to ensure their compliance. And with a universe revolving around the relativity of renewal, the love affair with sustainability akin to the ideology of a cancer cell destroys rather than helps humanity.
Investing in sustainability is irresponsible.
There is a lot more wrong with asset management than its compass. The improper assessment of risk driven by distribution is a confounding of consequence and cause leading, in the words of Nietzsche, to grave depravity of reason, as I explain in a prior narration.
It is outright dangerous to see a practice of finance with no knowledge of nature’s first-principles pretending to know about the evolutionary value from which humanity should benefit. But alas, such is the outcome of our society never having implemented a theory that complies with nature.