Federal Reserve announces major ‘pilot exercise’ for ESG social credit score system - "Climate finance" is almost identical to the Chinese Communist Party's social credit score system.

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[–]tiny-brown-mug 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (9 children)

Check this out, bros.

https://www.researchandmarkets.com/reports/5134311/socialcredit-market-by-physical-and-cyber?utm_source=CI&utm_medium=PressRelease&utm_code=8q35zh&utm_campaign=1420275+-+Global+Social+Credit+Market+Study+and+Forecast+2020-2025+-+Infrastructure+to+Support+Social+Credit+Systems+Represents+a+Nearly+%2414.7B+Global+Opportunity+by+2025&utm_exec=joca220prd

Here's their game plan. All laid out. Check out the biggest names on board. Amazon, Apple, Google, Meta.

[–]CreditKnifeMan 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (3 children)

Can you find the DOI # in this paper? I can probably get it if you know this #.

[–]tiny-brown-mug 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (2 children)

There's no author listed, so I'm not having much luck. Tried this site "https://www.crossref.org/guestquery/", but with no author, it won't find a DOI number. :(

[–]CreditKnifeMan 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (1 child)

If you have the DOI # then most papers are available here:

https://sci-hub.st/

SCI-HUB. "removing barriers on the way of knowledge"

Bookmark it.

[–]tiny-brown-mug 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Thank you. I'll likely use that later. Unfortunately, the original article I posted doesn't seem to have a listed author. Obviously at least one person originally wrote it, but seems they'd like to remain anonymous. Hmm.

[–]Site_rly_sux 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (4 children)

What even is this? You seem to have found the brief for a scientific paper that someone wrote. But there's no author or journal named. Are you sure this is a real thing? Is there a full paper somewhere? Sorry if I'm missing something obvious

[–]tiny-brown-mug 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (3 children)

There is a full paper, but you have to pay $2,500 for the license to download it (upper right corner of website under "purchase options", highlighted in yellow). Many of us don't have $2,500 lying around. This is essentially a game-plan for implementing a global social credit system, complete with what I am assuming is a year-by-year break down, as the report title includes the words "2021-2026". Meaning that some people are thinking very seriously about making this a reality.

[–]Site_rly_sux 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (2 children)

I guess I am pretty skeptical that you've found a real thing of any relevance here. Shouldn't there be an author or a journal name? Are you sure this is a real thing? How have you determined that this is a real thing and not, say, some prankster who wrote a blurb and put a fake high pricetag?

I guess the most generous explanation is that

  1. Researchandmarkets have paid an analyst to write about behavioural monitoring technology

  2. They are selling the resulting paper for 2.5K

Like, even in this super generous explanation, there's no implication that social credit will be a real thing? Or that the listed companies are truly involved in anything other than their normal business operations.

If you thought social credit was a real thing that companies were working on, wouldn't your proof be something stronger than a blurb for sale for 2.5k?

Then there's the issue that - because you never clicked op link and read the NYtimes page - your formulation of social credit, has absolutely zero to do with the topic at hand here, which is stress testing capital requirements for banking licenses, which you can't really tell me is a bad idea

[–]tiny-brown-mug 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

Hey, Site. If an ESG rating can be construed as a social credit system or a lead-in thereto, I'd argue that a document outlining possible ways and means to actually implement a global social credit system, complete with possible contributions and an expectation of compliance from major companies, is noteworthy.

While it is possible that this idea will never come to full fruition, my point was simply that the idea is there, people are actively trying to puzzle out how to make one work, and specifics, corporations, and region-by-region game plans are laid out. This sounds like something that at least a few individuals have a lot of thought and time invested in. And money, too, by the looks of the $2,500 price tag to even read the whole article.

When people have a lot of money invested in something, they tend to at least try to bring it on-line. Just saying.

[–]Site_rly_sux 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

If an ESG rating can be construed as a social credit system

ESG is not what the NY times article or the fed announcement is actually about (it's about capital stress testing).

Obviously ESG topics are a real thing that investors can consider and debt/security issuers can talk about. But ESG topics are NOT a lead-in to social credit scores by any means. You have more legwork to do, if you want to suggest that, to flesh out an argument as to why that would be the case. Like - if the SEC were implementing a standardised ESG rating system, then you could maybe argue that, but they're not.

complete with possible contributions and an expectation of compliance from major companies, is noteworthy.

Well, just to be clear, the companies listed on the researchandmarkets link have no expectation that they will comply with the researchandmarkets paper. They simply manufacture components that are named in the paper. Like Cisco. They make routers, and routers are topic that the paper purports to cover - there is no obligation upon Cisco to follow or read this paper at all.

This sounds like something that at least a few individuals have a lot of thought and time invested in. And money, too, by the looks of the $2,500 price tag to even read the whole article.

But your link doesn't establish that fact, all it shows is that there's a blurb and a 2.5k price tag. We don't know whether anyone has ever paid, downloaded and read it, or what they took from the paper. Or even that there's a real document behind it. Again I argue that if Cisco and whoever was really working on this, your evidence would be something stronger than this junk.

All your link shows - again in the most generous case - is that some website operator tries to charge 2.5k to hear their thoughts on a topic. It doesn't mean the topic is real or anyone is acting on it.