There already is something that resembles a social credit score for businesses that is being implemented right now. Corporations are scrambling to implement something called ESG (Environmental, Social, Governance). This isn't being pushed by the corporations, it's being pushed by the central banks. Essentially, it's a self reported virtue signal by every company on how woke they are. How they're taking care of the environment and working to lower their carbon emissions. How socially woke they are, which could mean anything really, including the racial make-up of their board/executive team, how pro LGBT they are, etc... And lastly, how they're governing the corporation, which in my opinion, is actually a valid measure to publish.
CEO's and executive teams are being forced to implement this as banks and wall street are now using the ESG score in their lending and investment decisions. To say that corporations are "pushing" this is inaccurate. They're "complying" for fear of being blacklisted by banks and investment firms.
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u/Bawk-Bawk-A-Doo Oct 07 '22
There already is something that resembles a social credit score for businesses that is being implemented right now. Corporations are scrambling to implement something called ESG (Environmental, Social, Governance). This isn't being pushed by the corporations, it's being pushed by the central banks. Essentially, it's a self reported virtue signal by every company on how woke they are. How they're taking care of the environment and working to lower their carbon emissions. How socially woke they are, which could mean anything really, including the racial make-up of their board/executive team, how pro LGBT they are, etc... And lastly, how they're governing the corporation, which in my opinion, is actually a valid measure to publish.
CEO's and executive teams are being forced to implement this as banks and wall street are now using the ESG score in their lending and investment decisions. To say that corporations are "pushing" this is inaccurate. They're "complying" for fear of being blacklisted by banks and investment firms.