‘All The Rest Is Hokum’: Writer Hits The Core Failure Of ESG That Democrats Are Ignoring
An article by Terrence Keeley outlined the five tenets conservatives should consider about ESG and “socially responsible investing,” but also hit the core of why
ESG policies relate to the way that major financial institutions invest the money that you invest with them. The focus is on Environmental, Social, and Governance policies, which Keeley argued “is premised upon unreliable data and the dangerous, highly misleading idea that tilting away from certain shares or bonds will fundamentally alter corporate behavior, improve risk-adjusted returns, and result in better social and environmental outcomes,” in his article for the National Review.
“None of these claims is true. Getting ESG right requires the identification of how and where mindful corporate practice and investment generate true, double bottom lines. All the rest is hokum,” he continued. “Discernment like this transcends politics, however. ESG strengths and weaknesses don’t change if your state is red, blue, or purple. Politicians of all colors should unite in deriding investment strategies that don’t help asset owners achieve their intended goals.”
A recent poll from CRC Research found that some 71% of respondents agreed with states that fired retirement fund companies that focused on politics over profits, which is a relief, but a reality that needs to be put into practice.
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