Marlo Oaks is ‘committed to pushing back against ESG,’ which he claims is a left-wing political agenda.
Letter criticizes short-term thinking that ‘imposes an ideological screen on an investment manager’s ability.’
Governor Ron DeSantis and other GOP pols seek to stamp out sustainability-minded investing, charging that it delivers poor results.
Pension fund wants to halve its investment exposure to them by 2030.
The governor contends that applying climate and racial sensitivity to asset allocation could harm financial performance.
‘Fiduciary duty is not lip service,’ says August 4 letter, which is addressed to CEO Larry Fink and seeks ‘clarification on actions that appear to have been motivated by interests other than maximizing financial return.’
Although the state's funds are hardly a hotbed of climate activism, DeSantis joins other GOP pols in opposing ‘woke capital.’
Famed investor increases his stake in Occidental Petroleum.
Some 58% of US institutions are unsure about investment performance, a survey says.