Free Republic

The House Judiciary Committee on Thursday sent letters to several asset managers and climate organizations over potential antitrust violations related to "decarbonization" agreements between firms as part of a larger investigative inquiry into Environmental, Social, and Governance (ESG) practices in the financial sector. ESG investing is the practice of using investor capital to advance non-financial goals, among them those outlined in ESG initiatives. Conservative critics have contended that the practice may constitute a breach of an asset manager's fiduciary duties to its investors. The Judiciary Committee in June issued a subpoena to climate group Ceres over a concern that its...

Strive co-founder and executive chairman Vivek Ramaswamy talks ESG and stakeholder capitalism on 'Fox Business Tonight.' See video at link Synopsis: Ramaswamy exposes asset manager companies' (such as Vanguard, Black Rock, State Street) penchant for advancing a "woke" agenda in their boardrooms, often contrary to the will of shareholders who give them money.

A paper released by McKinsey & Co. last week concludes that 28% of asset managers are not responding adequately to the recent storm hitting their industry. McKinsey chalks this behavior up to “depression and denial”. But wait. There is hope for the future of the asset management industry. The consultancy also concludes that 13% of asset management firms are “decisive operators” who have pared back costs and preserved profits (or at least, mitigated a fall in profits). These conclusions and accompanying prescriptive remedies are contained in a report called “Recovering from the storm: The new economic reality for U.S. asset...