Earlier this week, a Republican bill aimed at preventing pension funds from making investment decisions on the grounds of climate change considerations passed in both houses of Congress. While many expect President Biden to veto the bill and have it all done with, the existence of this bill is a sign of a changing tide—a pushback from conservative U.S. politicians against the ESG investment drive that has been gathering momentum for the past few years. The pushback is not just in Congress, either. In fact, it is much stronger outside Congress. Several states have set their sights on ESG investments and the firms that promote them. Texas and Kentucky are two good examples with their warnings for asset managers to either give up ESG—and the vilification of oil and gas—or lose Texas and Kentucky money. That’s how ESG investing turned from an opportunity to a risk. The Financial Times reported this week that the growing backlash against ESG investing has become a material risk for the profits of asset managers and private equity firms active in that sort of investing. The report cited annual reports by firms such as BlackRock, Blackstone, KKR, and T Rowe Price, saying that these […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
