ESG and Social Credit Scoring System The concept of ESG scores and the "Sustainability" concept was introduced by the United Nations in 2006 with the publication 'Principles for Responsible Investing', which advocated investments that included ESG concepts.
Launching the ESG Policy In its 2020 letter to clients, BlackRock announced its ESG policy: "This year we will begin to offer sustainable versions of our flagship model portfolios, including our Target Allocation range of models. These models will use environmental, social, and governance-)-optimised index exposures in place of traditional market cap-weighted index exposures. Over time, we expect these sustainability-focused models to become the flagships themselves."
ESG Assets Put on Ice but Sustainable Assets Grow Companies have been pressured by large shareholders like Blackrock and Vanguard to adhere to the ESG standards, but some companies are resisting.
BlackRock has filed to extend the period for debuting the "iShares ESG Aware ICE-HIP Muni Bond ETF" nearly every month since last autumn.
Critics including a string of state attorneys general and lawmakers have taken aim at BlackRock over its ESG investment approach.
According to Barron's, investors may see companies change how they talk about ESG. Nearly half the companies surveyed are now talking less about ESG and more about "sustainability," "corporate responsibility," or "responsible growth.
Has ESG gone away or is BlackRock, and predictably 88 per cent of the S&P 500 companies, merely switching the terminology used to describe it - from ESG to sustainable and climate?
https://expose-news.com/2023/08/27/blackrock-rebranding-esg-as-climate-related-risks/
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