and thank you andrew again for your reporting on esg. i think spurs is ahead when it come to footprint and on this space. i want to you go back to the -- i know you are involved with this and they november? new york and -- begin that is going on around the country as kirt mentioned in his res retreating and not putting as much on esg, what did, did anything come out of the meeting how they will address the companies this are -- large companies not mid sized. i know talk about this learning are companies that are take a step back. were there discussions how they would address this with companies moving forward in terms of the land scape? >> good question . i think -- different investors take different approaches. i think the key things that were focusod and others are trying to understand change in communication and language versus changes in practice. and we already seen examples where languages change but the practice has not changed. and -- i think that will be a key component to went next year and few years. begin there is the term esg

esg universe. we do know that. it includes the core tenants of leftist activism for example, the e and esg. the left's highest priority is the environment that is radical environmental to address climate change as a justification for transfer being forming our if not the world's economy and political structure. now esg cover nothing else. the for the left this radical environmentalists power grab would suffice. suffice. but there are other issues that fall under the esg rubric under the essence esg so called diversity, equity and inclusion, or dpa, which subverts merest merit based hiring policies and promotes race and sex based hiring. exactly the opposite of what americans have been striving. striving to overcome since at least the passage of the civil rights act in 1964, which made race and sex based hiring illegal. since at least the early 1960s, we've been building a society in which you are judged by the content of your character, not the color of your skin. as reverend martin luther king stated in his most famous speech at the washington mall, ye or the s in esg would destroy those ef

but like most, you start following the money terms of where did esg go and really where esg and the stakeholderovement really sort of ramped up in a bigger way to big events, i think mckinsey in 2014, they released a status of reports and mckinsey's the big global consulting firm that a lot of corporations use called diversity matters diversity wins and they were that boards and companies that are more diverse are ones that better economically and they use this to essentially sell a lot of their consulting services on. what became dti policies diversity equity inclusion policies for them to try and make more, even though they couldn't really replicate the results of the study. but they used it to make more money and at the same time in 2016, there another big event that happened. this is when donald gets elected president and donald trump getting elected president was a big shock to the system, especially if you're on the international order and if you were especially in your europe and your other organizations that relied on the us participate in global organizations, the paris climate agreeme

putting esg and black rock on notice. >> which was three years ago.n idiot, but esg is such an x essential for wretch. it is an extortion racket. this party is the party of donald trump, that's very clear. it is america first, that's where the republican party is going and we've got to make sure we stay on that trajectory. we see this time and time again where we have america first policies in the senate, that happens all the time. clearly i am in for the one big beautiful bill and reconciliation, so as donald trump because that's the way we will accomplish his agenda. looks like the senate might be moving a piece of their legislation forward. we've got to be unified under the president and execute on his 77 million vote mandate that he has. >> i agree. that is how washington works and as a member of a national media, hearing the stories of rural americans, some of them did feel left behind. people ravaged by hurricanes and starlike wanted to come in, these people -- we were seeing it in real time against these, you are very successful and we know who

david: in the u.s., esg and d.e.i. seem to be in less favored than they were two or three years ago. is that the case in norway? nicolai: no. david: you do not care about what the u.s. is doing? nicolai: there is clearly backlash. the policies are anchored in the parliament. we think it is important with climate reporting and we think diversity is good. david: in most scandinavian countries there is concern about climate change and a lot of interest around renewable energy but you make your money from nonrenewable energy. you make your money from carbonized chemicals and fuels but you do not believe in that to some extent. how do you square that? nicolai: we believe in it and we believe the gas that norway produces is very important. it continues to be a big part of the energy supply and important for security. ♪ david: let's talk about your own background. you were not just working your way up in the government with norges investment management, you were successful in the private sector. nicolai: i was born in a small

david: as we talk today, in the united states at least, esg and dei seem to be in less favored than they were two or three years ago. is that the case in norway? nicolai: no. david: you do not care about what the u.s. is doing in this regard? nicolai: there is clearly a backlash against esg. right? the policies that we have are anchored in the parliament. so, we have no change of our mind. we think it's important with climate reporting. we think diversity is good, and so on. david: in most scandinavian countries, i think certainly in norway, there is concern about climate change and a lot of interest in renewable energy, but you make your money from nonrenewable energy. is there an incongruity when you are making your money from carbonized chemicals and fuels, but you really don't believe in that to some extent? how do you square that? nicolai: we believe in it and we do think in particular the gas that norway produces, which is a very high proportion of the gas supply in europe, is very important. it continues to be a big part of the energy supply and important for security for many yea

back was worried six years back was very worried 7 the e56 six years back was very worried 7 the esg anda. meier, 77 m77eier, always 7 7 77 increasing; 5070767 77 m77eier, always good to your a. er 55’ w' your perspective. 77 y7ou7r7p7e7rs7pec7tive7.77thank 77 77 y7ou7r7p7e7rs7pec7tive7.7thankyou777 77 get your perspective. thenkryou joining us. skywatchers will be lucky enough to see a planetary parade this week. as clearly until 2040. but four of the planets, mercury, venus, jupiter, and mars, will be visible to the naked eye. sunset to see a spectacular sight in the skies. but higher up, the brightest star is actually venus, which we've got in the telescope now. but now this planetary parade has reached its climax, of young and old alike. oh, yeah! it's like a rainbow. it was a similar story at the bannau brycheiniog national park, a dark skies area in mid—wales. its director, alan trow, and his 16—year—old grandson, the wonderful crescent that it presents. colour, sort of. it's lovely. it's beautiful. in view from the earth. with the naked eye. saturn is harder to see because its low

to build schools in ... 45 million for di scholarships in burma, 520 million for consultant driven esg andvestments in africa. dei programs in serbia. the president's favourite. i'm sure you love that taxpayer money was spent on a dei musical in ireland or a transgender opera in columbia or. >> it sounds like how can these things be real but that is actually what was done. >> sean: i have 20 pages of this. if you had to put a number on it how much do you think you've identified at this point and we are going to be scrolling this throughout the program. >> the overall goal is to try to get $1 trillion out of the deficit. if it is not under control, america will go bankrupt. our country is no individual -- no different from an individual. an individual can go bankrupt and so can a country. the massive waste, fraud, and abuse that's been going on which is leading to a 2 trillion-dollar a year deficit. it's insane. >> we inherited it. inflation is back. i'm only here for two and a half weeks. inflation is back. they said i had nothing to do with it. these people have run the country. they spen

for various jurisdictions in the bay area including direct experience with cdbg, with home, with esg andhopper. i've served on the committee since 2015 and would like to continue and i'm happy to ask and answer any questions you might have. thank you so much. i don't see any questions from colleagues. >> mr. clerk, please go to public comment. yes, members of the public wish to speak on this matter. >> can approach the podium at this time. each speaker will be allowed two minutes. are there any members of the public who like to provide comment on this matter? >> there are no speakers at this time. thank you so much and seeing nothing else from colleagues i like to make a motion to move this item forward with the positive recommendation and nominate clinton lofton laufman for seat two yes on that motion vice chair sherril sherril i member amendment right madam and i chair walton all right well tonight motion passes without objection. >> thank you so much. motion carriesease c f, . item number four is a hearing to consider appointing one member term ending octob oversight and advisory comm

if you do away with these dumb acronyms, dei, esg, and your amri anymore is usa. aughter] larry: i love that. well done. i mean, really, it's a long journey, but you're right. from 35 to 15, and he's going to take down a lot of other taxes as well. i mean, the whole percentage is just chock full of stuff -- package the is just chock full of stuff which'll help the private sector. we've got to stop that, get it out of the way. scott bessent's going to come on, you're pitching it right now while we're waiting finish. >> i'll be scott bessent's warm-up band any if day. i'm glad he's there with the p.m. of the u.k. for a very important meeting. larry: yes, indeed. i want the talk about -- let's stay on this subject for a minute, free markets and liberty. very interesting, jeff bezos, who is the proprietor, own owner of "the washington post" newspaper, a far-left organ, as you'll say. so he sent this out today. i'm just going to read a little bit of it, but it's very beautifully written, and i want to get your take. because i think this is a sign of the times, okay? wri

they're hated and vilified, left over from the religion called esg. and they're so afraid that trump is going to ruin them the way that drill, baby drill did back in the 2016 time period. >> that said, apa does have a 5%. but let me just ask you this bill for the for the kinds of industries, the sectors that you like, are tariffs a threat or an opportunity? >> it the tariffs i'm a my economics major taught us that david ricardo and comparative value if someone can make something better and less expensive than you, go do something else and let that other country produce it. so that's that's just my natural philosophy from the way i was educated. and so i believe that it will be inflationary. i believe that when ups cuts their amazon deliveries in half, because the usps is going to charge $5.35 for the last mile versus $3.10, that's inflationary. that's a 60% increase in price. when the dockworkers get 8.5% per year, compounded for six years when the machinists at boeing get 8.5%. and then you throw and then you throw tariffs in on top of it. it can't help

takes pretty activist positions across corporate america and we've been engaging with companies, telling them not to constrain themselves by esge we get back is it's actually not just the u.s. but it's actually the eu that's putting in place these restrictions for our companies ant not just for our companies on our business in the eu, but actually our business in america as well and so one of the things when i talk to regulators in the u.s. what i say is you do not want the eu to be regulating american companies so i think it's a great sign that companies are actually taking the step to say we need to eu to relax regulations as well and i'm glad to hear that the trump administration is also taking a hammer to these restrictive policies. cheryl: you know, that kind of goes hand in hand with what we've seen with donald trump and the tariffs and the reciprocal tariff eo which he just signed because that really does target europe who has been attacking our technology companies just to be clear for decades. let's take a look at crypto right now and these crypto prices. bitcoin is at 96,000 and change. ethereum, 2700. and then there

tremendous opportunity to reset the national narrative on production agriculture, dispatcher will energy, and esgwe owe it to our farmers, ranchers, and energy producers to engage in this fight. we owe it to our citizens to defend our way of life. and honestly, we owe it to the rest of the world to be the grown-ups in the room. [applause] with the support of the legislature and in coordination with the attorney general, we will be aggressive in our legal strategy, continue to push back on the federal bureaucracy that does nothing to make our food safer, energy cleaner, but makes everything more expensive and stifles our ability to grow. we created the pro-business environment for the energy industry to come here to take new risks and try new things. there is nothing particularly special about the blocking versus other shale formations. the difference is the north dakota legislature created a regulatory framework that incentivized those risktakers to try new things in north dakota. we have done it before. it worked, and we need to do it again. for all of the advancements in energy production, we a

and up 6,837. >> yeah, larry gets dinged for esg stuff and it's some deserved and backed off a lot of it and he has this a bit. trader at first boston, one of the top mortgage-backed trader and two guys dominate that had in the 80s when created, lou and larry. larry fink take as big loss at first boston. he goes for black stone. steve schwartzman making asset management guy at black stone going with zero assets and a few in 1988 and six years later, buys himself out. $300 million and paid schwartzman and got investor to help him pay for it. schwartzman calls it the worst mistake of his life and now full circle. black stone and blackrock are the some of them in the private credit space. it's a remarkable journey they've take and again, every board to have a succession plan and at 72, he's going nowhere fast. liz: give me your homework and i would have done it. larry fink is the second oldest ceo. >> absolutely. jamie is in his late 60s and brian boost in energy handout is 64 -- brian monahan is 64, 70s. he's the oldest but i'm telling you, he liz: 27 is the nur 42. >> one guy said he acts 27. liz: h

logs and funding projects with billion os f taxpayer dollars and transgender projects and even $500 million+ for esga and funding to tune of millions if not billions and censorship products in the world and not country. >> they were resis the president's oversight over the weekend and send in u.s. marshalls to get doge access and usaid renewed to give the senate the basic ideas of funding and budget and they've been resisting oversight, and i have to tell you you're now seeing what has been going on in dc. i don't think just with usaid and it was a microcosm of government writ large and it's just the tip of ice burg. liz: yeah. tip of the iceberg. >> it would be nice if congress would actually provide oversight in transparency saying we're not going to simply behindly fund this sort of stuff till you provide accountability in transparency and what you deserve. liz: that's a simple thing and government watch dogs and gao reported waste and government abuse in afghanistan, iraq, syria, africa since at least, ned, 2010. lawmaker haves been warning money was literally stolen by contractor frauds and peo

esg, the goal of the world economic forum. stakeholder capitalism is to protect capitalist growth and wealth concentration by using esg criteria as international propaganda mechanism for to mediate civil unrest. we're trying to do something about it, folks don't get upset. unfortunately e.g. yes, consciousness is having a zero impact on global inequality which is increasing and the environmental crisis is increasing as well. or environmental crises. and i grew up in california don't remember like having 50 fires at once. yeah. i mean it's like this is pretty serious. yeah. so the upper elites who are 1/20 of 1% of the world's population and they get richer and the rest of us struggle to get by borrowing half of the population lives in some high poverty, tormented by combinations of poor nutrition, homelessness or threat of it, and an inadequate health care sociologically. the current global trends mean even greater concentrations of wealth and increase inequality. and the decisions made the it regarding the vast amounts of economic policies affect the entire world. and seldom do collective good for everyone. the global consequ

through the backdoor of companies, companies like black rock, vanguard, pushing a very aggressive esg dei agenda andmpanies to get involved in political issues whether asking them to defund the police like salesforce did, overturn election integrity laws and bud light, the straw that broke the camel's back, transgender issues. stuart: has bud light recovered? >> they lost 30% of customers, millions of customers, shareholder value, they continue to shed customers, stock prices are 50%, $50 million in advertising, don't think it will have any impact. stuart: will they advertise bud light? >> the commercials are pretty good. they have shane gillis, opposite of dylan mulvaney, they lost a lot of customers and customers asking them, is bud light going to be fun in football or dylan mulvaney, until the company comes back and says clearly what it is going to be i don't know if customers will come back. stuart: target used to be one of the principal supporters of dei, outspoken supporters of it but they are backtracking, are they being sued? >> similar bud light. target used to be one of the darlings of the

and we have gotten the money back. $520 million for a consultant to do esg.

and where we're really seeing strength is both in the esg data reporting and also in product regulatoryds, helping our customers maneuver all of the different requirements that they have to fulfill all over the world. and then the derivative ways that they use that data to promote their own businesses. >> let's talk philosophically for a second. i know you've got china, and china cares more about safety than i think people realize in our country. we're beginning to hear businesses talk about, you know, what, we are going to be deregulated. it's going to be terrific. does anyone ever, ever push for deregulation of safety? >> i don't think that anybody pushing for things to be less safe is ever a winning proposition. you know, let's start with consumers. you know, we all want to keep our families safe. we want to make sure that our work environments are safe. you go into, you know, the manufacturing facilities. people want to make sure that they leave work in as good or better condition than when they came in the morning. and all of this requires, you know, safety of that built environmen

and we have gotten the money back. $520 million for a consultant to do esg. tal, social, and governance investments in africa. 25 million dollars to promote biodiversity, conservation, and social responsibility behavior in colombia. $40 million to improve the social and economic inclusion of migrants. nobody even knows what that means. $42 million for social and behavioral change in uganda. $10 million for mozambique medical male circumcision. we are doing circumcisions in mozambique to the tune of approximately 12 million-dollar. 14 million dollars for improving public procurement in serbia. $486 million to the consortium for elections and political process strengthening, including $22 million for inclusive and participatory political process in moldova. and $21 million for voter turnout in india. why are we caring about india turn out? we've got enough problems. we want our own turnout, don't we? can you imagine all that money going to india. i wonder what they think when they get it. now, it is a kickbacks scam. they kick it back to the people who said in m

what i want to also add to that, because you've pushed back against dei and against esg.the way a big win today, wells fargo throwing in the towel on their esg program. the media is portrayed this again as a sort of mean-spirited racist move. what do you say about that? >> i say when you actually love someone, you tell them the truth. when you get a job on the basis of your sex or your race, that is not meritocracy. that's actually harmful for both society and the individual. let's help people become the best candidate for the job. i'm all about mentorship, helping people succeed. i wouldn't be where i was unless i had a mentor that helped bring me up and let's help american people regardless of their race and gender succeed. that'll be the best for them and our economy. charles: great stuff. talk to you again real soon. all right folks of course its been to say its been a rough week be an understatement. here is the question. just how bad is the economy deteriorating and what can we do about it? my next guest has got some amazing answers you don't want to miss particular

they manage csp risk and opportunities for every investment that we add to the portfolio and on going monitor esg matters with existing relationships. and the third pillar is active ownership where we seek to influence performance for public market portfolio. active management executive officers. comment letters which is often about relatory or policy matters. and then finally proxy voting and proxy voting as you know is our right and opportunity to vote on a variety of items including directions, compensation packages or compensation structure i should say, mergers in a variety of other matters. to today as we do every year, we have two proxy items for the board. the first is review for proxy voting activities in 2024 along with observations about the season and then some recommended changes to sfers recommended guidelines. with that, i'll hand it over to andrew. >> thank you, curt. so we'll start with a present awesing on our proxy voting activities in calendar year 2024 and that will include the way sfers voted on our proxy vote as well as commentary on the broader market and then we'll contin

and again, this is just a small sample. this could go on. i could read them all day. $520 million for a consultant. i want to know who is that consultant. to do esgnd governance investments in africa. $25 million to promote biodiversity conservation and licit livelihoods by developing socially responsible behavior in colombia. $40 million to improve the social and economic inclusion of sedentary migrants. nobody knows what that even means. none of this stuff. nobody. everyone is trying to figure out what the hell does it all mean? $42 million for social and behavior changes in uganda? 40 million. a lot of newspaper ads in uganda, $70 million for research of evidence based solutions for development challenges, $10 million for mozambique medical male circumcision. what is that? what does that mean? $2.3 million for a strengthening independent voices in cambodia. $14 million for improving public procurement in serbia. $486 million to the consortium for elections and political process strengthening, including $22 million for inclusion. inclusive participatory political process in moldova and $21 million for voter turnout in india. what do we need to

could do esg, environmental, social and governance investments in africa. $25 million to promote biodiversity, conservation. and livelihoods by developing socially responsible behavior in columbia. $40 million to improve the social and economic inclusion of sedentary migrants. nobody even knows what that means. none of this stuff. everybody is trying to figure out what the hell does it all mean? 42 million dollars for social and behavioral changes in uganda. $40 million is a lot of newspaper ads in uganda. $70 million for research of evidence-based solutions for development challenges. $10 million for mozambique medical male circumcision. what does that mean? 2.3 million dollars for strengthening independent voices in cambodia. 14 million dollars for improving public procurement in serbia. $486 million for the consortium for elections and political process strengthening including $22 million for inclusion inclusive participatory political process in moldova and $21 million for voter turnout in india. why do we need to spend $21 million for voter turnout in india? i guess they were trying to g

and $11 million to stop the vietnamese to stop burning brush and dea scholarships in burma and consultant driven esgestments in africa or the fact that you don't want to spend money on electric vehicles in vietnam or dei musical in ireland or a trans gender opera in colombia or a trans gender comic book in peru. you sound extraordinarily selfish to me. >> yes, yes, i'm selfish. so selfish because my needs are america first in line with president trump and elon musk is in line with president trump. by the way, threatic with elon -- this whole rhetoric with elon musk, it's nothing more than helping the country and taking a risk and step away from their fabulous lives who sacrifice for our country saying i'm going to pause to help this great nation be great again and not to have the demise economically and say safety. there's so much i've learned, sean, and i've been honest about everything i've seen. we needed a fix that you've never seen before and i am grateful for the administration is working. >> sean: i'm too. >> every person is working so hard and we're going to fix this nation. promises made, p

esg. $25 million to promote biodiversity, conservation, and promote livelihoods by developing socially responsible behavior in the country of colombia. that is nice, $25 million going to colombia. 40 million dollars to improve the social and economic inclusion of sedentary migrants. $40 million. $42 million for johns hopkins, great place, to research and drive social and behavior change in uganda. what about us? what about social change in our country? $70 million for a center at purdue to research university sourced, evidence-based solutions to developmental challenges. these are massive numbers on things no one ever heard about. $10 million for mozambique voluntary medical male circumcisions. $10 million for circumcisions in another country. $9.7 million for uc berkeley to develop a cohort of cambodian youth with enterprise driven skills. teach them something about enterprise. what about our people? can't we teach them about enterprise? two point $3 million for strengthening independent voices in cambodia. $32 million to the prague civil society center, which is a very liberal group of people. i