Have you heard of China’s “social credit” system? Of course, you have, and most people react with revulsion. Only totalitarian states would rank their citizens based on “social credit” – right?

Since 2014, the CCP has been building a system that keeps track of everyone under its umbrella and ranks people like cattle at an auction. You are good or you are bad.

Toe the party line and be rewarded. Step over the line, and you will be punished.

The CCP says:

“Keeping trust is glorious and breaking trust is disgraceful”  

Citizens who have had their social rating downgraded will be punished.

China’s “National Development and Reform Commission” (NDRC) and Chinese financial institutions like the People’s Bank of China are largely to blame. They monitor you with cameras, spyware, where you go – what you buy and when.

Yeah, that’s Communist China, that’s not going to happen here. Well, Bank of America, Wells Fargo and a dozen other financial institutions say “Hold my copy of 1984.”

A system called ESG is a darling of banks like Citigroup, TD Bank Financial Group, Wells Fargo, and Bank of America to name but a few. ESG is the acronym for Environmental, Social, and Governance.

Banks have been applying ESG scoring to evaluate investments and to determine risk. One would assume that applying ESG scoring would eliminate investing in totalitarian states like China but alas, banks generally leave their social consciousness at home when it comes to China.

If banks want to “judge” investments based on environmental, social, or governance, who are we to complain, but ESG isn’t just used by banks — you have an “ESG” score.

Have a bank account? Chances are you can find your “ESG” score somewhere on your account.

This isn’t new it’s just been hovering under the radar. According to “Impact Investor” whatever you do, including who you vote for affects your ESG score and soon, that score might make the difference if your bank grants you a loan.

Here’s what Impact Investor says about ESG

“ESG scores take a lot of information into account when it comes to commercial and industrial entities. On a personal level, just as much information is used to create a picture of who you are and how your personal actions influence the world around you.

Buying a gun, alcohol, or even clothing will all affect your overall ESG score. Not only will your purchases matter, but who you purchase from and how they do business.

Your political affiliations also factor into your personal ESG score. Aside from the politics in governance, the party you support and even the person you vote for will make your score go up or down based on that person’s actions, policies, and voting habits.

The type of car you drive, how often, and even how many people are in the car when you drive will also come into play when deciding your score.”

Bank Guy:

“Gosh Mr. Average Guy, I wish I could give you the loan, but your ESG score is really low. You bought a lot of meat and booze for a Super Bowl party and you’re a registered Republican? Geez, guy. Oh and, I see – last week you bought a gas-powered leaf blower? Woof. Suuuuper bad. Look eat some kale and yogurt for a couple of months and register as a ‘Green Party” member. Come back in 6 months… K?”

Worried?