Conservatives rightfully believe that objective journalism in
the MSM has come to an end
Being replaced by advocacy journalism in, save at Fox, a growing trend
Now another field of human endeavor is under a Woke attack
One in which there are statistical rates of performance to track
The latest woke trend is to invest pension funds only in corporations that excel
in ESG
Environmental, Social and Governance AAA ratings investment managers want to
see
It is noble that a company might excel in one or in all three
But shouldn’t rate of return be the goal for the plan’s retirees?
Retirees may worry about the future climate change impacts
But in the here and now the goal should be that the checks do not lack
Amounts needed to pay for the necessities of life plus the enjoyments of the
golden years
Not to whether or not a company exceeds or fails in its ESG grade have to fear
Blackrock which is the largest asset manager with over a trillion in assets under
management control
Seems to be deviating to a political advocacy group from its traditional
fiduciary role
Investing in companies with high ESG ratings rather that those with higher
rates of return goals
Arizona alarmed that Blackrock’s growing ESG adherence will mean that higher
rates of return its Woke stole
So the state is transferring assets managed by Blackrock to other fund managers
as quickly as it can
Hopefully for retirees’ sake, Arizona will be aped by other state pension funds
across the land
© 12/11/22 Michael P. Ridley aka The Alaskanpoet
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