Displaying items by tag: esg

(New York)

BAML’s chief investment office has put out some comments on how to help position ESG for clients. The ESG sector is plagued by misinformation and vagueness which clouds the overall value proposition. Accordingly, the best way to approach it is to have a matter-of-fact conversation to demystify things. According to BAML, “Advisors find clients are generally looking to avoid certain areas depending on their preferences, or because they have found investments score poorly by ESG metrics; favor investments they think will benefit various social or environmental practices; or help contribute to measurable outcomes around such an initiative”. They continued “It's an opportunity to demystify the conversation and also to keep it in a dialogue, because where we find this goes awry is when anyone feels like there's a moral superiority or mandate going on as opposed to a dialogue around your personal preferences”.

FINSUM: It is easy to get lost in the world of things claiming to be ESG. The best way to approach the sector is to be specific (e.g. I want a portfolio without fossil fuels), or at least specifically vague (I only want to invest in companies with high ESG scores).

(New York)

Warren Buffett is aged and venerated, which gives him some significant latitude in what he wants to invest in and not. No one in the investment community seems to have a problem with Buffett avoiding Bitcoin or meme stocks, but something Berkshire Hathaway did last week might cost them. The company blocked two shareholder resolutions requesting that its holding companies disclose ESG data on climate change and workplace inclusion. That is causing some on Wall Street to draw a line. For instance, both BlackRock and CalPERS, as well as Federated, all voted against Buffett. Buffett and other director shareholders were able to stop the measures because of their voting power.

FINSUM: This vote gets narrower every year and it is a good lens through which one can view the steady and seemingly unstoppable rise of ESG.

(Washington)

In its fourth-quarter earnings report…see the full story on our partner Magnifi’s site

(Shanghai)

Central Bank Governor Yi Gang said that Chinese financial institutions will have to…see the full story on our partner Magnifi’s site

(Washington)

The Biden admin is tackling some of the changes made during Trump's administration, particularly to…see the full story on our partner Magnifi’s site