Politics are fought in the investing sector thanks to ESG investing

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Last Updated on August 21, 2022 by Bitfinsider

Our society is divided along more than simply political lines; red and blue coffee shops, media, and entertainment have all adopted this division.

So perhaps it was inevitable that these cracks would appear in the financial industry.

The rise of “ESG investing,” which stands for environmental, social, and governance investing, and the growing opposition to this movement. In the formerly nonpolitical, clubby world of money management, battle lines are emerging.

The concept of social investing has its origins in decades-old calls by campaigners for pension funds to refrain from buying tobacco stocks and doing business with organizations that supported apartheid in South Africa.

Kofi Annan, the secretary general of the United Nations, introduced ESG in 2004 and enlisted the aid of major financial institutions to find strategies for incorporating environmental, social, and governance considerations into capital markets.

This appeal led to the creation of the “Who Cares Wins” worldwide agreement, which was signed by Goldman Sachs and Morgan Stanley.

About ten years later, certain institutional investors and money managers, notably BlackRock, the largest money manager in the world with about $10 trillion in assets under management, started to create the support of shareholder initiatives and set up investment products with an ESG focus.

BlackRock and its cohort partially acted in reaction to left-leaning pressure.

These same investment managers—in particular, BlackRock—are now the target of attack from the political right.


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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.


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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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