NEW YORK (AP) — After sweeping through battles in statehouses across the country, the war against ESG investing is heating up in Congress.
Such risks may not be as appreciated by those using just traditional investment analysis, which could lead to too-high stock prices, ESG advocates say. That in turn would mean too-high risk.
Others consider a company’s record on data protection and privacy, where lax protocols could lead to leaks that drive customers away. That’s enough money to buy Tesla, one of the most valuable U.S. stocks, more than 11 times over. It also means ESG accounted for $1 of every $8 in all U.S. assets under professional management.
Still, despite the slowdown, demand is still higher for sustainable funds than for their traditional peers.No, the vast majority of money in ESG investments comes from huge investors like pension funds, insurance companies, endowments at universities and foundations and other big institutional investors.ESG investors are pushing for more engagement with companies, discussing their concerns about the environment, social issues and governance.
It’s all an evolution from the industry’s early days, when “socially responsible” investing was quite simplistic. Early funds would just promise not to own stocks of tobacco companies, gun makers, or other companies seen as distasteful.Advertisement 9Some in the business world also have been particularly critical of rating agencies that try to boil complex issues down to simple ESG scores.
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