Groom associate Jacob Eigner was quoted in Fast Company’s article, “The Biden administration just made ESG investment easier, but the strategy remains controversial as ever.”

Eigner said, “ESG is in the eye of the beholder.” He also noted, as restated by Fast Company, “ESG opponents may argue that the looseness of the term makes it an unreasonably risky investment strategy, while proponents might say ESG should be treated as basic economic concerns because climate change is all-encompassing. It’s also plausible to imagine that an ESG strategy could pick investments that perform well as environmental problems worsen. ‘They could highlight the size of the marketplace and say it’s too big of a pool of money to force to the sidelines, given the issues the world is facing.’”

Fast Company quoted him further, “It’s become a ‘very long tennis match of hitting the ball back and forth,’ Eigner said, leaving fund managers nervous.” Regardless of Biden’s new rule, Republicans are likely to counter at the state level, according to Fast Company, so “we expect uncertainty in this space for plan sponsors to continue,” Eigner added.

To read the article, click here.


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