Just 74 members of the S&P 500 even mentioned “ESG” in their first quarter earnings calls, according to new FactSet data.
ESG funds have also lost popularity with investors.
Total assets under management in ESG funds fell by about $163.2 billion globally during the first quarter of 2023 from the year before, according to data provider Lipper.
The Congressman asked whether the company’s diversity initiatives were “directing resources away from the important things like greasing wheel bearings?”Companies “see that certain terms have become lightning rod terms.
“You can say you’re increasing diversity initiatives just for the optics, but without data to back it up, you’ll eventually get called out by stakeholders,” he said.
Persons:
New York CNN —, George Floyd, “, “ ESG, It’s, —, Lipper, What’s, Bud Light, influencer Dylan Mulvaney, Mike Collins of, ”, Douglas Chia, Chia, they’re, ” It’s, David Duffy, they’ll, you’ll, ’, Powell, Bryan Mena, Jerome Powell, ” Powell, Dow, Stocks, Beyoncé, Anna Cooban, Michael Grahn, ” Grahn, Bruce Springsteen, Grahn, that’s
Organizations:
CNN Business, Bell, New York CNN, InBev, Silicon Valley, Norfolk Southern, Conference Board’s ESG, . Firms, Securities and Exchange Commission, Federal Reserve, KPMG, Corporate Governance Institute, “, Nasdaq, Danske Bank, Reuters, CNN
Locations:
New York, Ukraine, United States, America, Silicon, Mike Collins of Georgia, East Palestine , Ohio, Denmark, Stockholm, Sweden, Swedish, Gothenburg