Vanguard CEO defends decision to pull asset manager out of climate alliance

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Buckley added that Vanguard’s approach to managing climate change risks, which is focused primarily on company disclosure standards, “has not changed.” Campaigners say it should use its influence to press companies to accelerate the decarbonization of their operations, while U.S. Republican politicians accuse it of failing to support fossil fuel industries.“Politicians and regulators have a central role to play in setting the ground rules to achieve a just transition to a lower carbon economy,” he said, when asked about the increasing politicization of ESG investing.

“We cannot state that [environmental, social and governance] investing is better performance wise than broad index-based investing,” said Buckley. “Our research indicates that ESG investing does not have any advantage over broad-based investing.”

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Vanguard CEO defends decision to pull asset manager out of climate allianceVanguard has found itself caught between the two sides of the climate change debate. Find out more. My appreciation for Vanguard has risen after reading this. NO ONE should dictate to a company how they should run their business. If they offer a product/service and they have customers good; if customers stop buying, so be it, they go bankrupt. I do not base my investing on ESG bravo, screw ESG.
Source: nationalpost - 🏆 10. / 80 Read more »