ESG’s Beginning Is Messy, But It’s Here to Stay

It’s Climate Week in New York City and the financial capital is responding to more ESG backlash. While the acronym ESG stands for “environmental, social, and governance,” what it means depends on who you ask.

Earlier this year, to take one example, the name of investment manager Federated Hermes appeared on the website of the State Financial Officers’ Foundation as a “sponsor,” alongside oil-industry stalwarts Wells Fargo, JP Morgan and Fidelity Investments, according to the news organization Responsible Investor. The foundation is a conservative organization leading an anti-ESG movement.

Published by Bianca Taylor in Baroon’s.