NYU Law Forum—ESG: The Backlash
40 Washington Square South NY ,10012 (view map)
Socially responsible investing—widely known as ESG, for the environmental, social, and governance factors used as investment criteria—is facing a backlash. Even as the level of money flowing into ESG funds remains robust, critics have emerged from the ranks of Wall Street Journal opinion writers, asset managers, and conservative politicians. They say the approach departs from the duty to maximize financial returns, amounts to “woke capitalism,” and blame it for driving up energy prices through disinvestment in fossil fuels. Republican state treasurers and comptrollers are pulling money from BlackRock, the world’s largest money manager, whose CEO, Laurence Fink, is a prominent ESG proponent. What should we make of the criticisms leveled against ESG? How should investment firms and regulators respond? What does the law have to say about it? At this Forum, panelists—including a representative from BlackRock—will discuss these issues and more.
This event is co-hosted by Institute for Corporate Governance & Finance.
Participants
Senior Managing Director and Head of External Affairs, BlackRock; Director, Division of Investment Management, US Securities and Exchange Commission (2017-2021)
Betty M. Huber ’96
Partner and Global Co-Chair, ESG Practice, Latham & Watkins
Senior Research Fellow, Institute for Corporate Governance & Finance, NYU School of Law; Commissioner, US Securities and Exchange Commission (2019-2022)
Professor of Accounting and Auditing, Columbia Business School
Robert J. Jackson Jr. (moderator)
Pierrepont Family Professor of Law and Co-Director, Institute for Corporate Governance and Finance, NYU School of Law; Commissioner, US Securities and Exchange Commission (2017-2020)