Episode
What Is E.S.G., and Why Are Republicans So Mad About It?
27:05
Published: Mon Mar 13 2023
Description
The principle behind E.S.G. is that investors should look beyond just whether a company can make a profit and take into account other factors, such as its environmental impact and action on social issues.But critics of that investment strategy, mostly Republicans, say that Wall Street has taken a sharp left turn, attacking what they term “woke capitalism.”Guest: David Gelles, a climate correspondent for The New York Times.Background reading: How did environmentally conscious investing became a target of conservatives?Republicans are likely to keep making E.S.G. a political punching bag.For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.
Chapters
President Biden will issue his first veto in support of good corporate governance - ensuring that corporations take care of not only their investors but also the softer issues that are important to society.
00:00 - 03:13 (03:13)
Summary
President Biden will issue his first veto in support of good corporate governance - ensuring that corporations take care of not only their investors but also the softer issues that are important to society.
EpisodeWhat Is E.S.G., and Why Are Republicans So Mad About It?
PodcastThe Daily
ESG or Environmental, Social, and Governance investing is on the rise, with big institutional investors putting billions of dollars into these funds.
03:13 - 12:23 (09:10)
Summary
ESG or Environmental, Social, and Governance investing is on the rise, with big institutional investors putting billions of dollars into these funds. However, there is also a growing backlash against ESG, with some industries feeling unfairly targeted by these investment strategies.
EpisodeWhat Is E.S.G., and Why Are Republicans So Mad About It?
PodcastThe Daily
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.
12:23 - 24:25 (12:02)
Summary
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.
EpisodeWhat Is E.S.G., and Why Are Republicans So Mad About It?
PodcastThe Daily
Federal regulators have approved an unusual intervention into the banking industry to avoid a financial crisis after the government shut down two regional banks, Silicon Valley Bank and Signature Bank.
24:41 - 26:58 (02:16)
Summary
Federal regulators have approved an unusual intervention into the banking industry to avoid a financial crisis after the government shut down two regional banks, Silicon Valley Bank and Signature Bank. Customers feared the financial health of Silicon Valley Bank, leading them to withdraw tens of billions of dollars, causing regulators to intervene.