REPORT: 22 state financial officers are demanding answers from top credit rating agencies — including @MoodysRatings, @FitchRatings, and @SPGlobalRatings — on their continued use of discredited, woke ESG policies 👇 The state financial officers want to know specifically how rating agencies' continued use of these thoroughly discredited policies has influenced individual states' credit ratings, warning that continued use of these policies harms state financial interests, taxpayers and investors. In their letter, the state financial officers highlight how these ESG policies rely on assumptions that have been repeatedly proven false. From assuming fossil fuel demand would rapidly decline to predicting that governments would universally impose tougher climate policies, the assumptions underlying discredited ESG policies have not materialized. The state financial officers also highlight how use of these discredited policies in ratings has (and still is), in many cases, bizarrely led to higher ratings for Chinese businesses while simultaneously causing US companies to be downgraded. The very fact that so-called 'ESG risk' resulted in some American companies getting downgraded while Chinese state-owned companies received high ratings should be enough to discredit this absurd metric permanently. No credit rating agency should base scores on ESG, period. @ConsumersFirst commends these state financial officers for being proactive in calling out these agencies for outrageous ESG practices.