News Analysis
Actions taken to counter the ESG movement are broadening as the biggest money managers in the world are being taken to task for pushing their political and ideological stances on companies. Some observers of the progressive investment phenomenon see it as a threat to democracy and national security and a violation of capitalism.
ESG stands for environmental, social, and governance. It’s also characterized as socially responsible investing (SRI) or sustainable investing.
As an example, popular Canadian money manager Wealthsimple offers to tailor SRI portfolios for clients by avoiding investments in oil or weapons companies, eliminating the top 25 percent of carbon-emitters in each industry, and ensuring that every stock in the portfolio has 25 percent women or at least three women on the company’s board of directors….