“Woke” capitalism is one of the worst developments in years.
Private corporations were long-viewed as a bulwark against leftist insanity, now they’re all-in.
Because one major financial company has a new policy that will send chills down your spine.
Major corporations have adopted a new framework called ESG (Environmental, social, and governance) where companies are scored on their commitment to stakeholder capitalism versus shareholder capitalism.
That means ESG scores are not determined by what companies do for the people invested in the company, but by what companies do to combat climate change or fight for social justice.
In other words, bad business can raise a company’s ESG score so long as it dovetails with the priorities of the globalist Left.
And now, Mastercard is upping the ante by determining employee bonuses based on their commitment to ESG.
Mastercard CEO Michael Miebach wrote in a statement, “Last year, we introduced a new compensation model for our executives at the executive vice president level and above. Their bonus was determined in part by the company’s performance on three Environmental, Social and Corporate Governance priorities: carbon neutrality, financial inclusion and gender pay parity…Each and every one of us shares the responsibility to uphold our ESG commitments. That’s why we’re extending that model to our annual corporate score and all employees globally, taking our shared accountability and progress to the next level. The corporate score rewards employees for going above and beyond to deliver strong results for the company. Beginning this year, achieving our ESG goals will now factor into bonus calculations for all employees.”
Mastercard has been part of the Orwellian De-Banking Movement in which people with counter-narrative opinions about anything run the risk of losing access to financial services.
For example, Customer Relations Management platform Salesforce yanked their cloud-based services from the Republican National Committee and the conservative independent investigators at Project Veritas following January 6, throwing wrench in their ability to fund their work.
Donald Trump Jr. recently saw Chase bank-owned online payment provider WePay cancel processing for ticket sales at a fundraiser for The Defense of Liberty PAC, where he was the headline speaker.
Mastercard itself forced Patreon and PayPal to deny service to “problematic” right-wing pundits.
If that weren’t bad enough, Mastercard may not even be calling the shots.
BlackRock, the largest asset management firm in the world that is strong-arming companies into its own globalist ESG agenda, has a $16.88 billion stake in Mastercard.
BlackRock has its hands everywhere.
Early in the pandemic, the Federal Reserve chose BlackRock to manage billions of dollars in bonds and mortgage-backed securities.
Nearly half of the Fed’s corporate bond purchases during the forever-pandemic went into BlackRock funds.
Lo and behold, BlackRock has disrupted the housing market by purchasing single-family homes over market and using them as rentals.
In other words, homebuyers, particularly first-time buyers who do not have equity in a home, are having a much harder time buying property.
BlackRock CEO Larry Fink has made it quite clear that ESG is a top priority for the company, and companies in BlackRock’s portfolio are falling in line, including Mastercard.
Stay tuned to Unmuzzled News for any updates to this ongoing story.