ESG, Energy, and War: BlackRock’s Nod to Reality

The notion that either ESG (the variant of "socially responsible" investing, under which actual or potential portfolio companies are ...

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BY ANDREW STUTTAFORD Image May 14, 2022
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BY ANDREW STUTTAFORD May 14, 2022
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ESG, Energy, and War: BlackRock's Nod to Reality

The notion that either ESG (the variant of "socially responsible" investing, under which actual or potential portfolio companies are measured against various environmental, social, or governance guidelines) or the closely related notion of stakeholder capitalism has reached some sort of high point is such an alluring prospect that it is difficult, sometimes, to resist (less so, if you have a properly pessimistic conservative temperament). Sadly, the opportunities for profit and power offered by ESG and stakeholder capitalism, not to speak of those presented by the eminently exploitable climate millenarianism that plays such a role in both, mean that we are a long, long way from that happy day.

There are plenty of examples to make that point, not least the planned extension of the SEC's reach into this area, an example of regulatory mission creep (or, rather, gallop), that, if it goes through, will at least have the merit of a certain grotesque novelty. To watch an agency allegedly dedicated to investor protection embark on a course that will, not least through the burdens ...   READ MORE

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