“The financial services industry is duping the American public with its pro-environment, sustainable investing practices. This multitrillion dollar arena of socially conscious investing is being presented as something it’s not. In essence, Wall Street is greenwashing the economic system and, in the process, creating a deadly distraction. I should know; I was at the heart of it.
As the former chief investment officer of Sustainable Investing at BlackRock, the largest asset manager in the world with $8.7 trillion in assets, I led the charge to incorporate environmental, social and governance (ESG) into our global investments.”
[COMMENTARY] This is quite an indictment. However, there’s more detail in the article which expands on the fact that ESG itself is needed!
Financial world greenwashing the public with deadly distraction in sustainable investing practices, by Tariq Fancy, March 16, 2021, USA Today, USA.