SMSF investors should welcome heightened scrutiny of ESG as regulators call for rigorous and measurable standards.
have announced they will target greenwashers. These may be just the start of the industry’s problems.
Armaments and the defence sector were suddenly needed to defend Ukraine. What was socially harmful then became socially strategic. Russian companies were ESG-compliant, then they were not.To wean itself off Russian energy and transition to clean energy, Europe needs far more coal. Companies that increased coal usage to keep the lights on were punished on ESG metrics, but it was needed and profitable – coal stocks were rewarded massively with share price rises.
This political backlash is gaining momentum and Republican-controlled states have introduced bills to undermine ESG investing. In Australia, time will tell if ESG becomes a pawn in the culture wars.Investment decisions shouldn’t be political. ESG investing has arisen out of investor demand. Pence is entitled to his views, but so too are mainstream ESG investors.
Regulators are working at breakneck speed to develop rigorous and measurable ESG standards to ensure industry-wide accountability. This will be crucial for the success of ESG investing.
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