ABM
Happily Married In Music City, USA!
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I was scanning through some articles this morning and came across this one. Admittedly, I know very little about ESG, and the concepts, at this point, appear to be a bit complex, and effectively above my pay grade. Anyway, these guys are obviously against it. Particularly, the Environmental components of it. One of the quotes in the article caught my eye:
Tariq Fancy was the chief investment officer for sustainable investing at BlackRock, which is the most important institutional face of the claim that ESG investing has an important role to play in helping the environment, promoting the social good, holding the corporate world accountable, and so on. Fancy thinks the ESG project is intellectually bankrupt and is damaging to the most important causes it purports to support. I think this too (at least the “E” and “S” parts; there may be hope for “G”), but it means a lot more coming from him, and he does not hold back. He says BlackRock’s position on global warming is analogous to the National Rifle Association’s on US gun deaths:
"In my role at BlackRock, I was helping to popularise an idea that the answer to a sustainable future runs through ESG and sustainability and green products, or in other words, that the answer to the market’s failure to serve the long-term public interest is, of course, more market. A bit like the NRA’s traditional answer to mass shootings and related concerns around public safety — the answer is more guns."
https://www.ft.com/content/ec02fd5d-e8bd-45bd-b015-a5799ae820cf
The ESG investing industry is dangerous
A BlackRock dissident speaks truth
Tariq Fancy was the chief investment officer for sustainable investing at BlackRock, which is the most important institutional face of the claim that ESG investing has an important role to play in helping the environment, promoting the social good, holding the corporate world accountable, and so on. Fancy thinks the ESG project is intellectually bankrupt and is damaging to the most important causes it purports to support. I think this too (at least the “E” and “S” parts; there may be hope for “G”), but it means a lot more coming from him, and he does not hold back. He says BlackRock’s position on global warming is analogous to the National Rifle Association’s on US gun deaths:
"In my role at BlackRock, I was helping to popularise an idea that the answer to a sustainable future runs through ESG and sustainability and green products, or in other words, that the answer to the market’s failure to serve the long-term public interest is, of course, more market. A bit like the NRA’s traditional answer to mass shootings and related concerns around public safety — the answer is more guns."
https://www.ft.com/content/ec02fd5d-e8bd-45bd-b015-a5799ae820cf
The ESG investing industry is dangerous
A BlackRock dissident speaks truth
