Washington Post (December 30)
ESG investing has become a political hot potato in the U.S. New York is considering a motion to shift from BlackRock, which “oversees $42.3 billion in index funds for city pensions” to other asset managers with a more proactive stance on ESG. Ironically, “BlackRock and its leader Larry Fink leaned into ESG during a different political moment. But that changed after Texas passed a law blacklisting BlackRock for its fossil fuel ‘boycott.’”
Tags: $42.3 billion, Asset managers, Blacklisting, BlackRock, Boycott, City pensions, ESG investing, Fink, Fossil fuel, Hot potato, Index funds, New York, Political, Texas, U.S.
Institutional Investor (August 23)
“Proponents and critics of ESG claim it can change society. Both will be disappointed.” During the past five years, ESG investing has taken off. “By the end of 2022, global ESG funds had attracted more than $2.5 trillion in assets.” Regardless of this clout and “whether or not asset managers are ‘woke,’ ESG doesn’t hurt oil companies or provide capital for solutions to avoid the worst impacts of climate change.”
Tags: $2.5 trillion, Asset managers, Assets, Capital, Change, Climate change, Critics, Disappointed, ESG investing, Impacts, Oil companies, Proponents, Society, Woke
Investment Week (May 18)
“Interest in ESG investing has waned among UK investors, with less than half now prioritising ESG investments over maximising returns.” A recent survey by Charles Schwab UK “found that since 2021, the number of investors who consider ESG when making new investments has fallen from 44% to 38%” while those placing sustainable investing over returns fell from 55% to 47%.
Tags: 2021, ESG investing, ESG investments, Interest, Investors, Returns, Schwab, Sustainable Returns, UK investors, Waned
Wall Street Journal (January 24)
“The financial industry has spotted an opportunity to make money by helping people feel good about themselves. Despite claims to the contrary, these investments don’t do much to make the world a better place…. The explosion of ESG investing… is mostly—but not completely—a waste of time.”
Tags: Better place, Claims, ESG investing, Feel good, Financial industry, Investments, Money, Opportunity, Waste, World
