Thank God at least one of the major brokers is willing to take an openly anti-ESG stance.
In December, Vanguard resigned from the Net Zero Asset Managers initiative, a coalition of 301 asset managers committed to reducing greenhouse gas emissions.
The decision to withdraw from the coalition has sparked fury among environmental activists already angered by the Pennsylvania-based asset manager’s refusal to rule out new investments in fossil fuels.
Buckley, however, said that Vanguard was “not in the game of politics”.
“We cannot state that [environmental, social and governance] investing is better performance wise than broad index-based investing,” said Buckley. “Our research indicates that ESG investing does not have any advantage over broad-based investing.”
Thank God at least one of the major brokers is willing to take an openly anti-ESG stance.