Haley Zaremba writes at oilprice Will Trump’s Proposed ESG Regulation Help Big Oil? Excerpts in italics with my bolds.
The ESG Push to Gamble Pension Funds on Climate Concerns
Instead of joining the financial revolution geared toward environmental, social, and governance (ESG) that many experts believe is coming down the pike (with or without the cooperation of the United States) the Trump administration has actively fought against this likely inevitability. A new proposed regulation from the United States Department of Labor would explicitly bar the department from taking ESG into consideration in decision making concerning U.S. employer-provided pension funds. Ostensibly, this move is because the government doesn’t believe that the nation’s pension fund managers are doing a good job, but many critics see this as a blatant attempt to redirect investment dollars towards fossil fuels, which are increasingly falling out of favor with investors.
[Note: The author’s bias shows…
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