Chapter
The Costs of Pulling State Money out of Mainstream Investment Vehicles
12:23 - 24:25 (12:02)
Studies show that states that stop doing business with big banks are likely to incur millions of dollars in additional fees when working with smaller players on Wall Street. Meanwhile, the rise of ESG (Environmental, Social, Governance) investing has caused billions of dollars of state money to be pulled out of mainstream investment vehicles, leading to missed opportunities in the market.
Clips
States, like Texas and Louisiana, are boycotting mainstream financial institutions, like BlackRock and Credit Suisse, due to their anti-fossil fuel policies.
12:23 - 15:18 (02:54)
Summary
States, like Texas and Louisiana, are boycotting mainstream financial institutions, like BlackRock and Credit Suisse, due to their anti-fossil fuel policies. However, studies have shown that working with smaller players on Wall Street can incur hundreds of millions of dollars in additional fees, and it can result in pulling billions of dollars of state money from the mainstream investment market.
ChapterThe Costs of Pulling State Money out of Mainstream Investment Vehicles
EpisodeWhat Is E.S.G., and Why Are Republicans So Mad About It?
PodcastThe Daily
Studies show that ESG investing can be beneficial in the long term, but investors risk missing out on market upswings if they divest from all fossil fuel investments.
15:18 - 17:53 (02:34)
Summary
Studies show that ESG investing can be beneficial in the long term, but investors risk missing out on market upswings if they divest from all fossil fuel investments. Additionally, the popularity of ESG may lead to pressure on companies to participate, even if they don't want to.
ChapterThe Costs of Pulling State Money out of Mainstream Investment Vehicles
EpisodeWhat Is E.S.G., and Why Are Republicans So Mad About It?
PodcastThe Daily
The growing popularity of ESG, Environmental, Social and Governance criteria, in investing has led to backlash, particularly among Republicans who view it as just another form of political correctness.
17:54 - 22:05 (04:11)
Summary
The growing popularity of ESG, Environmental, Social and Governance criteria, in investing has led to backlash, particularly among Republicans who view it as just another form of political correctness. This has led to federal bills being passed to restrict the use of ESG criteria, causing concerns of corporate overreach.
ChapterThe Costs of Pulling State Money out of Mainstream Investment Vehicles
EpisodeWhat Is E.S.G., and Why Are Republicans So Mad About It?
PodcastThe Daily
Some Republican lawmakers have been introducing bills to prevent ESG investing by pension funds, but considering the massive amounts of money flowing into these funds and the fact that companies themselves are committed to ESG goals, it seems more like a protest from those feeling they've lost the cultural corporate battle.
22:05 - 24:25 (02:20)
Summary
Some Republican lawmakers have been introducing bills to prevent ESG investing by pension funds, but considering the massive amounts of money flowing into these funds and the fact that companies themselves are committed to ESG goals, it seems more like a protest from those feeling they've lost the cultural corporate battle.