The sheer fact that the ESG rule is even needed tells you that ESG does not in fact provide better returns. Right now financial advisors are obligated to seek the maximum returns for their clients unless their clients specifically direct them to do otherwise. If ESG is the best long term investment strategy and will produce better returns than there doesn't need to be a rule that allows managers to consider ESG metrics as part of the investment strategy. By allowing ESG criteria to now be considered financial managers are able to push clients into funds that have lower returns based on personal ideology. It's wrong and it's going to hurt middle to lower income investors who rely on investment brokers to help them prepare for retirement. Woke has nothing to do with it.

Yes. We should bring back slavery and child labor because it might get better returns for your "retirement!"

Which you are not getting anyway, shit bag. Because in order to retire from somewhere you have to actually work some place first. And clearly you do not sing you post all day every day on SLOG.

@1 I guess the capitalists who care more about ideology than making money hang out with the high rollers from the homeless industrial complex.

@2 what are you even talking about you bloviating, self righteous, condescending, bag of dog crap stinking up Kshama's lawn? Who said anything about child labor and slavery? Calm down, take a breath and realize that no one is preventing anyone from investing in ESG if it truly presents the best return but I suspect you know, as does the Biden administration, that it most certainly does not so the real question is why are you in favor of hurting middle and lower income investors?

@1, huh? My ESG outperforms my index fund. My financial products should do what I tell them to do, including meeting the standards to be considered “ESG.” That’s why capitalism is awesome.

@5 exactly and that’s great. If the funds are the best investment than advisors are free to invest in them as part of maximizing your return right now. The only reason you would need this rule is to choose an underperforming ESG fund. If ESG funds are truly the best choice why is the rule even needed?