{"id":1501099,"date":"2024-11-08T01:30:00","date_gmt":"2024-11-08T06:30:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1501099"},"modified":"2024-11-08T01:30:00","modified_gmt":"2024-11-08T06:30:00","slug":"the-grift-is-ending-esg-fund-managers-being-told-to-keep-their-lawyers-very-close","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/the-grift-is-ending-esg-fund-managers-being-told-to-keep-their-lawyers-very-close\/1501099\/","title":{"rendered":"The Grift Is Ending: ESG Fund Managers Being Told To “Keep Their Lawyers Very Close”"},"content":{"rendered":"

The Grift Is Ending: ESG Fund Managers Being Told To “Keep Their Lawyers Very Close”<\/span><\/p>\n

\n

We’ve known the ESG grift has been coming to a screeching halt for years now, with major investment banks and companies dropping their initiatives while the GOP goes on a rampage to try root out the faux-virtue signaling.\u00a0<\/p>\n

But now with President Trump once again taking the White House, one investment bank is advising ESG fund managers to “keep their lawyers very close”, as the full scale death of ESG may very well be on the door step,\u00a0according to Yahoo Finance<\/a>.<\/p>\n

Aniket Shah wrote in a note this week:\u00a0\u201cWe\u2019d encourage all ESG fund managers to have a lawyer on the team, or on speed-dial.\u201d<\/p>\n

He continued: \u201cAntitrust risk remains high for asset managers in ESG; there haven\u2019t been any cases yet, thus there is no legal precedent. Further, legal risks regarding fiduciary duty will stay relevant as states enforce anti-ESG laws.\u201d<\/p>\n

Yahoo reports<\/a> that\u00a0Trump’s victory has already hit green sector stocks, with wind-energy companies among the hardest hit. Beyond potential bans and obstructive policies, the ESG sector faces rising legal risks.<\/p>\n

<\/a><\/p>\n

Key GOP figures argue ESG-focused firms neglect fiduciary duties, while Republican attorneys general accuse financial firms using ESG metrics of collusion against fossil fuels and fueling inflation.<\/p>\n

In response, “greenhushing”\u2014keeping ESG efforts quiet\u2014is likely, Jefferies analysts note. Corporate CEOs are also expected to seek legal guidance to adapt to this shifting landscape.<\/p>\n

Jeffries said:\u00a0\u201cGeneral counsels are in the ear of CEOs, frightened about legal retaliation to ESG initiatives. The backlash could lead to more focused and pragmatic companies, engaging in strategic discussions closely tied to their business model.\u201d<\/strong><\/p>\n

Analysts argue that a public backlash, similar to 2016, could pressure companies to address issues like abortion and diversity. Conflicting state policies on ESG could create a \u201cnightmare\u201d of fragmented requirements, they warn.<\/p>\n

Shareholders may still push for ESG risk disclosures aligned with the International Sustainability Standards Board, even as the U.S. Chamber of Commerce maintains it isn\u2019t against ESG or climate disclosures. Notably, these observations focus on the ESG label itself, not the broader clean energy transition.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nThu, 11\/07\/2024 – 20:30<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/markets\/grift-ending-esg-fund-managers-being-told-keep-their-lawyers-very-close<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

The Grift Is Ending: ESG Fund Managers Being Told To “Keep Their Lawyers Very Close” We’ve known the ESG grift has been coming to a…<\/p>\n","protected":false},"author":0,"featured_media":1501100,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1501099","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbimBl-6ivh","jetpack_featured_media_url":"https:\/\/bugaluu.com\/news\/wp-content\/uploads\/sites\/3\/2024\/11\/esg_5-jlGcCt.jpeg","_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1501099","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1501099"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1501099\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1501100"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1501099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1501099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1501099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}