Cracking Down on a Wall Street Trend: E.S.G. Makeovers

Contributing sentiments towards policy:

53% :"Enforcement may have gotten ahead of rule-making on E.S.G.," said Marc Elovitz, head of the investment management regulatory practice group at Schulte Roth & Zabel, a law firm that represents many big hedge funds and investment advisers.
47% : The investigations come as some Republicans have charged the S.E.C. with promoting "woke capitalism" while some sustainable investment proponents have begun to question whether Wall Street's endorsement of E.S.G. is anything more than virtue signaling.
47% : A Goldman prospectus for the revamped fund says it avoids companies that "derive significant revenue" from alcohol, gambling, tobacco, pornography, guns, for-profit prisons and oil, gas and coal.
47% : But the difficult policy discussions around E.S.G. investing shouldn't be pre-empted by enforcement."
47% : "An investigation into possible misstatements in the E.S.G. space is really no different than an investigation into any other types of misstatements we may be looking at," said Sanjay Wadhwa, the deputy director of enforcement who leads the climate and E.S.G. task force.

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