Visitors to the financial district walk past the New York Stock Exchange, Friday, Sept. 23, 2022, in New York. The climate change-focused investment strategy known as ESG suffered another blow Tuesday at the hands of someone who was once its biggest steward on Wall Street:CEO called for “energy pragmatism” in his annual letter to investors. He said that consists of using clean energy to reduce global warming emissions while relying on fossil fuels for energy security.
The rhetoric from the chief executive of the world’s largest asset manager marked a significant departure from his years of staunch advocacy for ESG, or environmental, social and corporate governance investing that prioritizes climate change and social justice politics.wrote. “I’m hearing more leaders talk about decarbonization and energy security together under the joint banner of what you might call ‘energy pragmatism.
The messaging shift on a contentious issue that conservatives assail as “woke capitalism” comes after years of blowback from Republican officials againstand some of the globe’s other largest financial institutions, including State Street, Wells Fargo, JPMorgan, Bank of America and Vanguard.said last year he was ditching the ESG term — but not its strategy — because it’s “been misused by the far left and the far right.
“I spent a lot of time talking to the people who are responsible for powering homes and businesses, everybody from prime ministers to energy grid operators,” he said, recounting recent meetings with world leaders in Europe. “The message I heard was completely opposite to what you often hear from activists on the far left and right, who say that countries have to choose between renewables and oil and gas. These leaders believe that the world still needs both.
الإمارات العربية المتحدة أحدث الأخبار, الإمارات العربية المتحدة عناوين
Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.
مصدر: FoxBusiness - 🏆 458. / 53 اقرأ أكثر »