Commentary How green is your green portfolio? There’s a relatively new trend in investing called ESG. ESG stands for “environmental, social, and governance,” which generally means investing with an eye to sustainable outcomes. Marketwatch defines it like this, “The point of sustainable investing is to use personal values to invest in companies the person believes…
The Biden Administration’s ERISA Work-Around
Commentary Rising inflation threatens the value of Americans’ retirement savings. Now the Biden administration is finalizing a rule to loosen safeguards under the Employee Retirement Income Security Act of 1974 (“ERISA”) that protect private retirement savings. The new rule, “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights,” stems from President Biden’s May 20,…
EXCLUSIVE: ‘Most Unfavorable Political and Regulatory Environment for Our Industry I Have Ever Seen’: U.S. Oil & Gas Assoc. Chief
February 14, 2022
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bidenConocoPhillipsdebankingeconomyEIAEnvironmentESGExxon MobilgasolineKeystone XL pipelineOilPermian BasinPolicies & ImpactsPoliticsScienceshaleshellThe Epoch Times Featured ArticlesUncategorizedUSUS NewsWall Street
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In exclusive comments to The Epoch Times, Tim Stewart, the president of the U.S. Oil & Gas Association, said his industry has faced unprecedented hostility from D.C. under the Biden administration. “In my 30 years of working in Washington, this has without a doubt been the most unfavorable political and regulatory environment for our industry…
EXCLUSIVE: ‘Most Unfavorable Political and Regulatory Environment for Our Industry I Have Ever Seen’ Says US Oil & Gas Assoc. Chief
February 14, 2022
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bidenConocoPhillipsdebankingeconomyEIAEnvironmentESGExxon MobilgasolineKeystone XL pipelineOilPermian BasinPolicies & ImpactsPoliticsScienceshaleshellThe Epoch Times Featured ArticlesUncategorizedUSUS NewsWall Street
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In exclusive comments to The Epoch Times, Tim Stewart, the president of the U.S. Oil & Gas Association, said his industry has faced unprecedented hostility from D.C. under the Biden administration. “In my 30 years of working in Washington, this has without a doubt been the most unfavorable political and regulatory environment for our industry…
‘Environmental, Social, and Corporate Governance’ Scores Are Changing the Oil Industry
February 6, 2022
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Business & EconomyCarbonclimatecommoditieseconomic policieseconomyEnvironmentESGInternationalMarketsmicrosoftnet zeroNet Zero Banking AllianceOilPolicies & ImpactsRussiaScienceUSUS FeaturesWorld
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Environmental, social, and corporate governance—better known as ESG—is the order of the day in big business. According to its advocates, ESG rating provides investors with useful information on risks arising from climate change, pollution, and other environmental issues. Yet much of that information isn’t financially material. BlackRock, the world’s largest asset manager, notes on its…
Woke Capital Won’t Save the Planet—But It Will Crash the Economy
Commentary Judged by BlackRock CEO Larry Fink’s latest letter, January 2022 might turn out to be the highwater mark of woke capitalism. Stakeholder capitalism is not “woke,” Fink says, because capitalism is driven by mutually beneficial relationships between businesses and their stakeholders. He’s right. What Fink describes is capitalism pure and simple, the stakeholder modifier adding…
BlackRock Letter to CEOs Shows Politics Takes Priority Over Bettering Human Lives
Commentary With increasing attention being paid to the negative consequences of so-called environmental, social, and governance (ESG) investing—which means selecting clients’ investments based on political rather than financial criteria—many hoped BlackRock’s annual letter to CEOs would signal a shift away from activism and back toward fiduciary responsibility. Sadly, chairman and CEO Larry Fink’s letter offered…
US Coal Stockpiles Near Historic Lows
January 18, 2022
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The U.S. Energy Information Administration’s (EIA’s) latest short-term energy outlook (pdf) reveals that coal inventories in the electric power sector reached 93.7 million short tons as of December 2021—an increase since September when stockpiles hit a historic low not seen since the Carter administration. Isaac Orr, a policy fellow at the Center of the American…
State Street Sets New Targets for Biggest Companies on Climate Change, Boardroom Diversity
January 17, 2022
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The world’s fourth-largest asset manager, State Street, is putting listed companies on notice to take more action on climate change and ensure more women are promoted to board positions. State Street Global Advisors (SSGA) controls around US$4 trillion in shares across significant companies in the United States, Australia, Canada, Europe, and the United Kingdom, and…
Oil, Gas Outperform ESG as Sustainable Investing Peaks
Oil and gas stocks outperformed fashionable environmental, social, and governance (ESG) companies in 2021. Despite getting hammered in the early days of the global health crisis, energy businesses have returned to prominence over the last year. Exxon Mobil climbed about 50 percent, Chevron advanced roughly 40 percent, ConocoPhillips soared 70 percent, and Suncor surged 42…
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