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ESG isn't even close to illegal. Investment firms offer hundreds of different funds to choose from, you pick the one you like best and go with that. This conc

ESG isn't even close to illegal. Investment firms offer hundreds of different funds to choose from, you pick the one you like best and go with that. This concept would be illegal with your reasoning. But it's all irrelevant. A person that invests in a BlackRock S&P500 fund will pay fewer fees than a person that invests in a Texas-approved S&P500 fund. These two funds will have the same return over the course of your 40-year career, but the person with the BlackRock account will have tens of thousands of dollars more money. It's basic math. If ESG is bunk, the market will reject it. In fact, billions of dollars have been pulled from ESG funds over the last year. I suspect that there will be an eventual equilibrium found, but that's just me. In the meantime, BlackRock is making serious cash on their ESG funds (higher fees). Money that firms that don't offer ESG funds aren't making.

aquarium87 4y ago
So no one wants to put money in ESG. It auto-happens. And you've astutely noticed people are actively taking their money out of it. How is this not unethical? An investment banker is making low return investments that a high percentage of people are actively rejecting, going out of their way to call or email and override their investment bankers on this one issue? I'm not worried about the index fund investor or sp500 investor. It's the public pensions and people whose paychecks are autodeducted and invested that are the ones getting screwed. As for illegal, the activists say no. Traditional investors and attorneys say perhaps yes. Here is one states AG stating ESG in investments is illegal, and suing. https://www.wsj.com/articles/esg-may-be-an-antitrust-violation-climate-activism-energy-prices-401k-retirement-investment-political-agenda-coordinated-influence-11646594807 https://www.wsj.com/articles/esg-may-be-an-antitrust-violati...

aquarium87 4y ago

So no one wants to put money in ESG. It auto-happens. And you've astutely noticed people are actively taking their money out of it. How is this not unethical? An investment banker is making low return investments that a high percentage of people are actively rejecting, going out of their way to call or email and override their investment bankers on this one issue? I'm not worried about the index fund investor or sp500 investor. It's the public pensions and people whose paychecks are autodeducted and invested that are the ones getting screwed. As for illegal, the activists say no. Traditional investors and attorneys say perhaps yes. Here is one states AG stating ESG in investments is illegal, and suing. https://www.wsj.com/articles/esg-may-be-an-antitrust-violation-climate-activism-energy-prices-401k-retirement-investment-political-agenda-coordinated-influence-11646594807 https://www.wsj.com/articles/esg-may-be-an-antitrust-violati...