The Gray Area with Sean Illing

Is ethical investing a scam?

Dec 16, 2021

57:38

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The Biggest Problem I Saw Was That the Black Rock Strategy Didn't Work

03:26

Do You Think That's a Good Idea?

02:30

The Most Important Changes We Need Are Going to Come From Policy Reforms

01:55

Introduction

2min

Sustainable Investing

2min

Are You a Foro One K an E T F?

2min

Sustainable Investing

2min

The Biggest Problem I Saw Was That the Black Rock Strategy Didn't Work

3min

We Need Companies to Think Bigger

2min

Is It Possible to Do Sustainable Investing?

3min

Is Divestment Really Helpful?

3min

Do We Really Need Publicity Around the Fossil Fuel Companies?

2min

10.

Givewell Is a Great Way to Help the Less Poverty

2min

11.

The Theatrics of Business for Good

2min

12.

The Business Round Table, Stakeholder Capitalism

4min

13.

We're Knocking a Flat in the Curve

2min

14.

Can Business Save the World?

4min

15.

Do You Think That's a Good Idea?

3min

16.

Should You Not Think About Investing Sustainably?

4min

17.

What Does a Nonset Version of Capitalism Look Like?

2min

18.

Is Disclosure the Answer?

2min

19.

Get Your Health in Check With Zo Do

2min

20.

Engine One

2min

21.

The Most Important Changes We Need Are Going to Come From Policy Reforms

2min

22.

You Want to Be Net Zero in 20 50?

3min

Vox's Emily Stewart talks with Tariq Fancy about whether or not "socially responsible investment" is a scam. Fancy is a former executive who led sustainable investing at BlackRock, one of the world's largest asset management firms. The two discuss why these investment vehicles were developed and promoted, the failure of corporations to voluntarily self-regulate, and the need for government action to actually address the issues that ESG funds claim to be taking on.

Host: Emily Stewart (@EmilyStewartM), Senior reporter, Vox

Guest: Tariq Fancy (@sosofancy), founder & CEO, Rumie Initiative; former CIO for sustainable investing, BlackRock

References:

"The thorny truth about socially responsible investing" by Emily Stewart (Vox; Oct. 10)
"Blackrock's former sustainable investing chief now thinks ESG is a 'dangerous placebo'" by Silvia Amaro (CNBC; Aug. 24)
"BlackRock's Message: Contribute to Society, or Risk Losing Our Support" by Andrew Ross Sorkin (New York Times; Jan. 15, 2018)
"Harvard Will Move to Divest its Endowment from Fossil Fuels" by Jasper G. Goodman and Kelsey J. Griffin (The Crimson; Sept. 10)
"The Illusory Promise of Stakeholder Governance" by Lucian A. Bebchuk and Roberto Tallarita (Cornell Law Review; Dec. 2020)
"In His Final Shareholder Letter, Jeff Bezos Explains a Profoundly Simple Lesson Most Leaders Overlook" by Jason Aten (Inc.; Apr. 16)
"Little Engine No. 1 beat Exxon with just $12.5 million" by Svea Herbst-Bayliss (Reuters; June 29)

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This episode was made by:

Producer: Erikk Geannikis
Editor: Amy Drozdowska
Engineer: Paul Robert Mounsey
Deputy Editorial Director, Vox Talk: Amber Hall
Vox Audio Fellow: Victoria Dominguez

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The Gray Area with Sean Illing

Is ethical investing a scam?

The Biggest Problem I Saw Was That the Black Rock Strategy Didn't Work

Do You Think That's a Good Idea?

The Most Important Changes We Need Are Going to Come From Policy Reforms

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