Sustainable investing advocate says anti - woke backlash in US wont stop movement
Maria Lettini, CEO of US SIF, an advocacy group for sustainable investing, discussed the backlash against ESG investing upon her return to the U.S. from the U.K. Lettini noted that while the general public in both regions cares about environmental and social issues, there is a difference in the government s response and client expectations. In the U.S., there is a focus on short-term financial impacts, while in Europe and the U.K., there is more support for considering environmental and social risks and opportunities. Lettini was surprised by the extent of the anti-ESG pushback, particularly in the U.S., where it was well-funded and politically charged. However, she found that the market effectively countered these arguments, emphasizing that ESG investing aligns with free-market principles and fiduciary duty. Despite the backlash, US SIF members have remained committed to sustainable investing, even in states with anti-ESG laws. Lettini believes that better disclosure of material information and shareholders rights are essential for efficient markets and are not partisan issues. Overall, Lettini sees the industry as maturing and delivering on client expectations. Investors want their capital invested in resilient and leading companies, and sustainable investing aligns with this goal. Lettini and US SIF will continue to advocate for sustainable capital markets, regardless of political changes.
Source: abcnews.go.comPublished on 2024-09-16
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