Don't Go Broke Trying To Go Woke: Berkshire Hathaway Board SMASHES Down Woke ESG Proposals At Shareholder Meeting

Berkshire Hathaway held a shareholders meeting on Saturday where they rejected six proposals put forth by billionaire Warren Buffett that would address environmental, social, and governance changes. 

The shareholders voted down three different proposals by a margin of at least 3-to-1 that would disclose more on the climate effects the company has, as well as address them and promote diversity within the company, per Reuters. 

The climate proposals attempted to claim that the current disclosures done by the company are “insufficient for investors to fully appraise climate-related risks and opportunities.” The proposal also noted that many other portfolio companies already share information related to their carbon footprint. 

The diversity proposal pushed that the workforce data published by the company should “provide transparency on outcomes, using quantitative metrics for hiring, retention, and promotion of employees, including data by gender, race, and ethnicity.” Board members responded to the pandering request by saying that the board members of minority groups were “not selected for diversity purposes.”

Buffet said that Berkshire’s multitude of businesses understand they do not have “a piggy bank to promote their views on politics” through corporate decisions. 

The board also voted down a call for an independent director to replace the current chairman, Warren Buffet, who holds both offices of CEO and board chairman, by a margin of nearly 10-to-1. 

The suggestion was put forth as Buffet has had a history of interactions with Bill Gates, including donating to the Gates Foundation charity, and Gates' relationship with Jeffery Epstein. This prompted literal boos from the shareholders present at the meeting. 

The results are not that surprising, as Warren Buffet owns special shares of the company that give him nearly 32 percent voting stake in the decisions, making it hard for any proposal against the billionaire to get through the shareholder meetings. 

The decisions come not too long after Coca-Cola made similar decisions in their shareholder meeting, as reported by DC Enquirer. It seems that companies are watching others, like Anheuser-Busch, that attempt to go towards a woke agenda crash and burn, and then taking those lessons to heart. 

The shareholders also voted to reelect the company's 15-person board.