Novara Media Downstream: Woke Capitalism Just Collapsed. Here’s Why w/ Brett Christophers
13 snips
Jan 16, 2025 Brett Christophers, a geographer and former management consultant, dives into the decline of woke capitalism and its implications. He discusses the waning trust in asset management firms like BlackRock and Blackstone amid disillusionment with traditional financial practices. Christophers critiques the disconnect between leftist political leadership and industry expertise, emphasizing the need for practical solutions. He also examines the impact of UK land privatization and highlights the optimistic outlook for clean energy initiatives despite past financial missteps.
AI Snips
Chapters
Books
Transcript
Episode notes
Increased Interest in Asset Management
- Public interest in asset management has grown since the 2008 financial crisis.
- This is partly due to asset managers like BlackRock and Blackstone partially displacing traditional financial power brokers like banks.
Decline of ESG Investing
- ESG (Environmental, Social, and Governance) investing is declining because green capital isn't profitable.
- Investors prioritize maximizing returns over ethical considerations, leading to the shutdown of ESG-focused funds.
Job Losses in ESG
- Christophers' friend, formerly head of ESG at a major European asset manager, was recently fired.
- This reflects a broader trend of job losses in the ESG sector as companies de-prioritize it.
