The Shareholder Commons Unveils New Investor Strategy for Shielding Portfolios from Climate Change and Public Health Threats

The Shareholder Commons, a non-profit advocate for diversified shareholders, today released two case studies focused on the harmful impacts of climate change and antimicrobial resistance. The case studies demonstrate the gap between company-first ESG advocacy and portfolio-first system stewardship and prove to investors that measuring financial success on an enterprise-by-enterprise basis will never motivate companies…

Crafting the ‘G’ in ESG: Accountability in the Boardroom | Nasdaq

Perhaps the most significant guideline that boards must follow when it comes to sustainability is a change in mindset from compliance to command. When board members see ESG as a core tenant of their governance strategy, rather than a compliance box to check off, they can go above and beyond accountability, becoming a leader in…

Accenture CEO Defends ESG

Julie Sweet defended ESG in an interview with Alan Murray. I interviewed Accenture CEO Julie Sweet at the Workday Rising event in Florida yesterday, and asked her, as I have others this week, about the political backlash against ESG being led by Florida Gov. Ron DeSantis. She made no apologies, saying her company’s focus on environmental and…

BlackRock Responds to ESG Letter from Republican AGs

BlackRock sent a 10-page letter to the Republican AGs about ESG. As predicted, it is diplomatic, speaking in terms of “welcoming” the opportunity to “clarify” its positions. But it in no way backs down. The full letter is below, and here are some of the highlights. [footnotes omitted and emphasis added] Your letter makes several…

Inside Texas’ “bonkers” attempt to turn ESG upside down – E&E News

Texas is responding to what it calls a boycott of fossil fuel investments with a boycott of its own. It’s turning out to be financially expensive and probably politically expensive, too. Texas’ process is a fig leaf, financial experts say, for a political stunt that already has cost Texans millions of dollars.For Republican officials, though,…

WSJ Again Mistakes An Informercial for an Op-Ed

Another substance-free op-ed in the Wall Street Journal fails to make clear that one of the co-authors runs an explicitly anti-ESG fund. While it acknowledges that Yale Professor Jed Rubenfeld is an advisor to Strive Asset Management, it does not make clear that the fund’s entire brand is being a contrarian on ESG, even to…

Crocodile Tears from NLPC About Correctly Being Called Anti-ESG

Morningstar’s assessment of the anti-ESG shareholder proposals filed by the National Legal and Policy Center has produced a whiny non-rebuttal, by the non-profit described by SourceWatch as “a front group and industry funded right-wing political and policy lobbying organization. NLPC was founded in 1991 by Peter Flaherty and Ken Boehm, who previously worked for ‘Citizens for Reagan.’” SourceWatch notes…

Riskwashing: How the crusade against ESG is hurting businesses, taxpayers and retirees – ImpactAlpha

Call it ‘riskwashing.’  Most stewards of other people’s money want more, not less, information about possible investment risks. Not Republican governors and state treasurers, who have mounted a coordinated campaign from public office to limit or prevent the consideration of ESG, for environmental, social and governance risks, in the management of state and local assets.Take…

Missouri AG Launches Bogus Investigation Into Morningstar’s Use of ESG Factors

Missouri Attorney General Ken Paxton is leading a multistate investigation into Morningstar, Inc. and its wholly owned subsidiary, Sustainalytics, for potential violations of consumer protection and anti-Boycott, Divestment, and Sanctions (BDS) laws. Without any pretense of a factual basis, Paxton made a sweeping allegation: “The ESG movement is the latest tool that woke corporations are…

Narendra Tiwari: Building ESG: The Rise of ESG Rating Providers

Many thanks to Narendra Tiwari for permission to post this article: With growing interest in ESG criteria, investors need a way to objectively asses the ESG performance of a company.  This has led to the flourishing of a number of ESG Rating Agencies such as Sustainalytics  MSCI Inc. and FTSE Russell, An LSEG Business who asses companies globally on their…