Biden vetoes resolution that had bipartisan support
-
@LuFins-Dad No it just permits it.
@jon-nyc said in Biden vetoes resolution that had bipartisan support:
@LuFins-Dad No it just permits it.
But secondary to fiduciary responsibility. Of course, that's rather difficult to prove. The caveat here is to know your financial advisor.
-
@jon-nyc said in Biden vetoes resolution that had bipartisan support:
@LuFins-Dad No it just permits it.
But secondary to fiduciary responsibility. Of course, that's rather difficult to prove. The caveat here is to know your financial advisor.
@Mik I don’t think it eliminates fiduciary responsibility per se, I think it allows considering ESG ratings to be considered within the bounds of fiduciary responsibility.
But I’m not entirely sure about that.
Only non-witches get due process.
- Cotton Mather, Salem Massachusetts, 1692
-
The only cut and dried effect of the original legislation I could see, was that funds with explicit ESG goals were prohibited. The veto would have reinstated that rule.
The language about ESG being an allowed parameter, but within existing fiduciary responsibilities, seems meaningless, if maybe relevant in a court where a case in point might be argued. There are always ways to hand-wave an economic connection to social or environmental values.
-
@Mik I don’t think it eliminates fiduciary responsibility per se, I think it allows considering ESG ratings to be considered within the bounds of fiduciary responsibility.
But I’m not entirely sure about that.
@jon-nyc said in Biden vetoes resolution that had bipartisan support:
@Mik I don’t think it eliminates fiduciary responsibility per se, I think it allows considering ESG ratings to be considered within the bounds of fiduciary responsibility.
But I’m not entirely sure about that.
It doesn't eliminate it at all. But as I read it, it might only come into play if the decision were between two roughly equal financial instruments where one was associated with ESG programs and the other was not.
As always, the devil is in the details, and also the implementation.
-
My problem is the “Social” of the governance. We need less corporate involvement in the social issues of the day. We don’t need companies increasing their DEI initiatives to drive up share price.
The Brad
-
My problem is the “Social” of the governance. We need less corporate involvement in the social issues of the day. We don’t need companies increasing their DEI initiatives to drive up share price.
@LuFins-Dad said in Biden vetoes resolution that had bipartisan support:
My problem is the “Social” of the governance. We need less corporate involvement in the social issues of the day. We don’t need companies increasing their DEI initiatives to drive up share price.
It also vastly increases Union power.
The Brad
-
So… If I wanted to invest into funds that don’t do so well on the ESG scoreboard, which would those be?
The Brad
-
My problem is the “Social” of the governance. We need less corporate involvement in the social issues of the day. We don’t need companies increasing their DEI initiatives to drive up share price.
@LuFins-Dad said in Biden vetoes resolution that had bipartisan support:
My problem is the “Social” of the governance. We need less corporate involvement in the social issues of the day. We don’t need companies increasing their DEI initiatives to drive up share price.
How do you go from "social" in the ESG context to "DEI"?
Kindly explain. -
@LuFins-Dad said in Biden vetoes resolution that had bipartisan support:
My problem is the “Social” of the governance. We need less corporate involvement in the social issues of the day. We don’t need companies increasing their DEI initiatives to drive up share price.
It also vastly increases Union power.
@LuFins-Dad said in Biden vetoes resolution that had bipartisan support:
@LuFins-Dad said in Biden vetoes resolution that had bipartisan support:
My problem is the “Social” of the governance. We need less corporate involvement in the social issues of the day. We don’t need companies increasing their DEI initiatives to drive up share price.
It also vastly increases Union power.
Also, how do you go from "DEI" to Union power?
Kindly explain. -
So… If I wanted to invest into funds that don’t do so well on the ESG scoreboard, which would those be?
@LuFins-Dad said in Biden vetoes resolution that had bipartisan support:
So… If I wanted to invest into funds that don’t do so well on the ESG scoreboard, which would those be?
