ESG
Empowering Shareholders Will Help Reduce Proxy Advisory Firm’s Undue Influence
Titans of Wall Street have become vocal advocates for environmental, social, and governance (ESG) investing – including leaders of the world’s largest asset managers, banks, and other financial institutions. Less well known proponents, but perhaps even more influential, are the proxy advisory firms ISS and Glass Lewis, who control 97 percent of …
Activist Investors Are Putting Ideology Before Shareholder Value
Under the leadership of Gary Gensler, the Securities and Exchange Commission (SEC) is empowering activist investors to pursue their preferred politics and social causes at the expense of investors’ interests. According to a November 3, 2021 SEC staff memo Staff will no longer focus on determining the nexus between a policy issue …
Governor Newsom’s ESG Errors
California Gov. Gavin Newsom this week released a lengthy commentary defending so-called ESG investing, which he wrote has “proven results.” His defense requires fact checking and context. Environmental, Social and Governance (ESG) is the latest investing trend that claims investors can earn higher returns while also “doing good” on important social issues …
When Right Thinking Californians Learn About Tennessee’s Policy Agenda, They Might Be Ready to Call a Realtor
I recently traveled to Nashville to attend the annual Heritage Foundation Resource Bank conference, and annual gathering of conservative policy leaders from around the country. While at the conference, I had the opportunity to hear great speakers including Tennessee Gov. Bill Lee and Virginia Attorney General Jason Miyares and attend …
The Empty Case for Stakeholder Capitalism and ESG Investing
Instead of promoting responsible behavior, these practices undermine the principles of good corporate governance. Larry Fink, the chairman and CEO of BlackRock, is selling the idea that the world economy must embrace stakeholder capitalism and environmental, social, and governance (ESG) investing. Don’t worry, though, he wants you to know that stakeholder …
The SEC Is Considering Rules That Would Discourage Transparency And Encourage Inaccuracy
The SEC, under former Chairman Jay Clayton, issued a rule that improved the proxy advisory services market by promoting transparency and holding proxy firms more accountable for inaccuracies. Rather than implementing the necessary improvements to these reforms, Chairman Gary Gensler intends to roll-back the progress already made. Proxy advisory firms …
Wayne Winegarden in the Wall-Street Journal, “Tidal Wave of ESG Funds Brings Profit to Wall Street”
Tidal Wave of ESG Funds Brings Profit to Wall Street By By Michael Wursthorn March 16, 2021 Sustainability has been good for Wall Street’s bottom line. Exchange-traded funds that explicitly focus on socially responsible investments have 43% higher fees than widely popular standard ETFs. The environmental, social, and governance funds’ …
The OCC Is Right, Politics Should Not Determine Credit Access
The Office of the Comptroller of the Currency (OCC) is considering a rule (i.e., Fair Access to Bank Services, Capital, and Credit), which would ensure that banks provide equal access to financial services, without discrimination. Such clarification is sorely needed. It should go without saying, that banks should not discriminate …
PRI’s Wayne Winegarden Submits Comments on Proposed Rule on Fair Access to Bank Services
Dr. Wayne Winegarden, PRI senior fellow in business and economics, today submitted comments to the Office of the Comptroller of the Currency responding to their proposed rule on “Fair Access to Bank Services, Capital and Credit.” In the letter, Winegarden writes, “it should go without saying that banks should not …
Bloomberg Article on ESG Quotes PRI’s Wayne Winegarden
A Sign the ESG Movement Is Too Big to Ignore: There’s Backlash In the waning days of the Trump administration, several agencies are pushing back on the notion that corporations should prioritize anything other than profits. By Peter Coy, December 22, 2020, 2:00 AM PST The legal principle that corporate …
Empowering Shareholders Will Help Reduce Proxy Advisory Firm’s Undue Influence
Titans of Wall Street have become vocal advocates for environmental, social, and governance (ESG) investing – including leaders of the world’s largest asset managers, banks, and other financial institutions. Less well known proponents, but perhaps even more influential, are the proxy advisory firms ISS and Glass Lewis, who control 97 percent of …
Activist Investors Are Putting Ideology Before Shareholder Value
Under the leadership of Gary Gensler, the Securities and Exchange Commission (SEC) is empowering activist investors to pursue their preferred politics and social causes at the expense of investors’ interests. According to a November 3, 2021 SEC staff memo Staff will no longer focus on determining the nexus between a policy issue …
Governor Newsom’s ESG Errors
California Gov. Gavin Newsom this week released a lengthy commentary defending so-called ESG investing, which he wrote has “proven results.” His defense requires fact checking and context. Environmental, Social and Governance (ESG) is the latest investing trend that claims investors can earn higher returns while also “doing good” on important social issues …
When Right Thinking Californians Learn About Tennessee’s Policy Agenda, They Might Be Ready to Call a Realtor
I recently traveled to Nashville to attend the annual Heritage Foundation Resource Bank conference, and annual gathering of conservative policy leaders from around the country. While at the conference, I had the opportunity to hear great speakers including Tennessee Gov. Bill Lee and Virginia Attorney General Jason Miyares and attend …
The Empty Case for Stakeholder Capitalism and ESG Investing
Instead of promoting responsible behavior, these practices undermine the principles of good corporate governance. Larry Fink, the chairman and CEO of BlackRock, is selling the idea that the world economy must embrace stakeholder capitalism and environmental, social, and governance (ESG) investing. Don’t worry, though, he wants you to know that stakeholder …
The SEC Is Considering Rules That Would Discourage Transparency And Encourage Inaccuracy
The SEC, under former Chairman Jay Clayton, issued a rule that improved the proxy advisory services market by promoting transparency and holding proxy firms more accountable for inaccuracies. Rather than implementing the necessary improvements to these reforms, Chairman Gary Gensler intends to roll-back the progress already made. Proxy advisory firms …
Wayne Winegarden in the Wall-Street Journal, “Tidal Wave of ESG Funds Brings Profit to Wall Street”
Tidal Wave of ESG Funds Brings Profit to Wall Street By By Michael Wursthorn March 16, 2021 Sustainability has been good for Wall Street’s bottom line. Exchange-traded funds that explicitly focus on socially responsible investments have 43% higher fees than widely popular standard ETFs. The environmental, social, and governance funds’ …
The OCC Is Right, Politics Should Not Determine Credit Access
The Office of the Comptroller of the Currency (OCC) is considering a rule (i.e., Fair Access to Bank Services, Capital, and Credit), which would ensure that banks provide equal access to financial services, without discrimination. Such clarification is sorely needed. It should go without saying, that banks should not discriminate …
PRI’s Wayne Winegarden Submits Comments on Proposed Rule on Fair Access to Bank Services
Dr. Wayne Winegarden, PRI senior fellow in business and economics, today submitted comments to the Office of the Comptroller of the Currency responding to their proposed rule on “Fair Access to Bank Services, Capital and Credit.” In the letter, Winegarden writes, “it should go without saying that banks should not …
Bloomberg Article on ESG Quotes PRI’s Wayne Winegarden
A Sign the ESG Movement Is Too Big to Ignore: There’s Backlash In the waning days of the Trump administration, several agencies are pushing back on the notion that corporations should prioritize anything other than profits. By Peter Coy, December 22, 2020, 2:00 AM PST The legal principle that corporate …
