5 ms·
Yes. If they collectively decide stock price matters more than anything else (sustainability, the planet, long term viability of the business), they get it, wha
by sofixa 2y ago
Yes. If they collectively decide stock price matters more than anything else (sustainability, the planet, long term viability of the business), they get it, whatever the short or long term costs.
There was a comparison between Amundi (France based) and BlackRock, and their voting patterns, and BlackRock was consistently voting against any ESG or in any way ecology related proposals. Anything that isn't directly about making more money is just not their thing. Contrast that with Amundi who overwhelmingly voted for ESG or similar measures.
- Cumpiler69 2y ago>If they collectively decide stock price matters more than anything else So an oligopoly that presents the illusion of free market?
- throwaway48476 2y agoA market has buyers and sellers. Corporate decisions are driven by politcs where market terms don't apply.
- hnfong 2y agoMatt Levine has recently written a humorous-yet-thorough article on this exact issue: https://www.bloomberg.com/opinion/articles/2024-12-02/texas-asks-if-index-funds-are-illegal https://www.bloomberg.com/opinion/articles/2024-12-02/texas-...
- throwaway48476 2y agoElectronic trading and passive investing drove commissions to zero so Blackrock helped create ESG because ESG requires paying commission for the service of certifying an investment as ESG.