Opinion: The Tricky Politics of Anti-ESG Investing
Introduction by Thomas Fladung, Hennes Communications…
In an era of unprecedented corporate involvement in sensitive, frequently controversial, social issues, a recent survey of American consumers provides some guidance. The takeaway is not that companies should avoid taking any positions on such issues but that they should choose their battles carefully and, crucially, pay more than lip service if they do speak out.
Opinion: The Tricky Politics of Anti-ESG Investing
From Liam Denning writing for Bloomberg…
Recently, it may feel as if your 401(k) is just a mathematical distillation of every wrong decision you’ve ever made. Even worse, though, what if your investments are nothing less than the means by which a shallow and divisive agenda is foisted on millions of unsuspecting Americans by an “ideological cartel?”
That choice phrase comes from Vivek Ramaswamy, a former biotech executive, author and now co-founder of a new, Columbus-based investment firm seeded by, among others, the billionaire Peter Thiel. Strive Asset Management seeks to take on the Big Three — BlackRock Inc., State Street Corp. and Vanguard Group Inc. — accusing them of coordinating a campaign to push political objectives that are at odds with their clients’ best interests. For the rest, click here.