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Guest Editorial Week of 5/10/2021


Guest Editorial Week of 5/10/2021
Published by news@presspubli. on Fri, 05/07/2021 - 4:00pm
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A fiduciary’s duty is to retirees alone, not ESG
What do a former Assistant Secretary of the Treasury in the Clinton administration, the former BlackRock CIO of sustainable investing, and the former Trump administration Secretary of Labor have in common? They all have sounded strong cautions on the topic of so-called ESG investing.
Environment, Social & Corporate Governance factors are presented as socially conscious investments that asset managers often use to screen potential financial decisions.
Alicia Munnell, the former Treasury official and current executive director of the Center for Retirement Research at Boston College, recently stated: “I have no respect for ESG investing. I think it’s a ploy by the financial service firms, because active management was becoming less popular and so they kind of repa ....

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