Suffice to say, champions of Environmental, Social, and Governance (ESG) scores have had a “cruel, cruel summer,” as the classic Ace of Base lyric goes.
First, BlackRock CEO Larry Fink, one of the foremost champions of ESG investing, disavowed the very term, saying , “I don’t use the word ESG anymore, because it’s been entirely weaponized.”
Apparently, Fink “saw the sign,” as Ace of Base might say.Then, just a few weeks later, the first-ever lawsuit over ESG investing practices in a private company’s 401(k) retirement plan was filed. The lawsuit, filed against American Airlines and Fidelity Investments, accuses Fidelity of offering […]
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