At the inaugural UPS Impact Summit, the shipping company announced it will invest $8.75 million in Atlanta companies in a pledge to advance “ESG [environmental, social and justice agenda], diversity, equity and economic empowerment.”
“UPS is a purpose-driven company. We move goods while also doing good – this is who we are in our hometown and in every community we serve,” UPS Chief Executive Officer Carol B. Tomé said. “I’m proud of our Foundation’s approach to driving social impact here in Atlanta and around the world.”
Among the recipients of support from the Atlanta-based company are the Russell Innovation Center for Entrepreneurs, the National Center for Civil and Human Rights, the Atlanta Police Foundation, the Atlanta University Center Consortium, and the Morehouse School of Medicine.
The detailed statement by the shipping and logistics giant listed the equity and social justice programs the money is intended to fund:
Efforts in Atlanta include an investment in the Russell Innovation Center for Entrepreneurs (RICE); support for the National Center for Civil and Human Rights to provide DEI training for community leaders and research to support the LGBTQ+ community; an investment in the Atlanta Police Foundation to support the At Promise Youth Centers; 30 scholarships in the Atlanta University Center Consortium (AUCC), in addition to scholarships for students at Morehouse School of Medicine (MSM) to continue their careers supporting health equity in underserved communities, as well as other initiatives designed to elevate underrepresented populations, drive economic development, and support Atlanta youth.
“Service is in our DNA at UPS and equity is at the center of all we do through The UPS Foundation. This combination puts us in a powerful position to use our size, scale, and know-how to deliver what matters in Atlanta and around the world,” UPS Foundation Social Impact President Nikki Clifton said.
The UPS Foundation stated in its Monday press release that the UPS Impact Summit commenced “with the U.S. observance of Juneteenth and Pride Month in mind.”
Since the emergence of the progressive-driven Environmental Social Governance (ESG) movement, the Securities and Exchange Commission (SEC) proposed a rule that requires companies to report climate risk data like emissions. It has since come under harsh criticism from conservative politicians, and states have begun to preemptively ban ESG scoring.
“The SEC is not tasked with environmental regulation, nor has Congress amended the SEC’s regulatory authority to pursue the proposed climate disclosures,” Republicans committees wrote in a letter penned in April.
U.S. Senator Marco Rubio (R-Florida) introduced a bill in September 2021 called the “Mind Your Own Business Act” to fight back against ESG scoring.
“The federal government shouldn’t have any part in this radical nonsense, and especially shouldn’t be using your money to do it,” U.S. House Representative Chip Roy (R-Texas) said.
Rep. Roy helped to introduce House Resolution 7896, called the “No ESG at TSP Act,” to prevent federal Thrift Savings Plan (TSP) participants from investing in ESG funds.
“The most egregious immorality of the ESG movement, led by Larry Fink’s BlackRock, is its effort to destroy vital fossil fuel projects in poor places that desperately need them. This effort is guaranteed to perpetuate poverty,” The Moral Case for Fossil Fuels author and energy expert Alex Epstein said.
The BlackRock head, Fink, calls ESG scores “stakeholder capitalism.”
“As stewards of our clients’ capital, we ask businesses to demonstrate how they’re going to deliver on their responsibility to shareholders, including through sound environmental, social, and governance practices and policies,” BlackRock CEO Larry Fink said.
According to the consumer advocacy group, Consumers’ Research, companies like BlackRock participate in backdoor deals with the Chinese Communist Party (CCP).
“No amount of woke posturing can hide what BlackRock is really up to. The idea that an American company is taking billions of dollars and using it to bet on China’s success is extremely concerning,” Executive Director of Consumers’ Research Will Hild said in an October statement. “We cannot allow this to continue. Funneling Americans’ hard-earned retirement savings to China is unsafe from both a national security and financial perspective.”
The investment includes provisions for Diversity and Inclusion (DEI) training and “research” in support of the LGBTQ+ community.
“The theme of this year’s UPS Impact Summit – equity and economic empowerment – is significant here in Atlanta. Over the past decade, UPS has invested significantly in equity and economic empowerment here and abroad. These investments offer enhancements for customers, deepen work and communities, and provide new programs and pathways for employees,” City of Atlanta Mayor Andre Dickens said.
The political issue of ESGs is affecting politics on a national and international level.
On Wednesday, the Prime Minister of Sri Lanka announced that their economy had collapsed, and well-known investor contends that ESG is to blame. The unrest in Sri Lanka includes arson of buildings and the prime minister revealed the country is unable to pay for oil imports.
“ESG has officially collapsed its 1st economy. Sri Lanka hastily pivoted away from essential fertilizer in the name of ESG and watches its crop yields plummet. Now the country can’t pay for imports and the PM is declaring a complete collapse. Virtue signaling is dangerous,” investor Marty Bent said.
The Financial Times asserted last year that ESGs are to blame for the capital expenditure decline in oil markets.
“ESG [environmental, social, & governance] considerations account for much of the decline in capital expenditure by international oil companies in recent years and the investor exodus out of oil and gas markets,” Financial Times wrote in 2021.
Nonetheless, the White House recently reasserted its intent to move forward with its “clean energy proposal.”
“They are going to ESG-virtue-signal all of us into a global great depression,” Liberty Lockdown host Clint Russell said in response to the White House press secretary statement.
The UPS Impact Summit event is available on-demand here.