ESNG - The ESG Performance Paradox
The US Department of Labor's recent actions have cast a spotlight on the curious logic underpinning the case for environmental, social, and governance ((ESG)) investing.
More than 8,700 commenters wrote in July largely to condemn a new rule proposed by the DOL that would limit the ability of most employee retirement plans to select investments based on ESG factors. But the DOL's move is well-founded, and it's not surprising that many of the scathing critiques, accusing the DOL of everything from perpetuating racism to submitting to political interference, came from active fund managers.
The truth