Tariq Fancy

Republican presidential candidates, such as Ron DeSantis and Vivek Ramaswamy, continue to keep ESG in the national conversation. Ramaswamy in particular called it "woke capitalism" in his book and on our podcast. As we take our summer break, we decided to re-release our conversation with Tariq Fancy, BlackRock’s former global chief investment officer for sustainable investing, whose criticism of ESG is based not on its goals, but rather on an insider's knowledge of how it actually works.We’re taking a short summer break as we put together some fascinating episodes on the past and future of antitrust, the shortcomings of neoliberalism, and whether science and law are for sale in our capitalist system. In the meantime, we thought we might re-share some of our most thought-provoking episodes that are still relevant, maybe even more relevant, today. I hope you get as much out of it on a second listen as we did, and we’ll be back with brand new episodes soon. Thanks for listening. Link to our interview with Ramaswamy: https://podcasts.apple.com/is/podcast/is-woke-capitalism-a-threat-to-democracy/id1326698855?i=1000543737590

Tariq Fancy, founder and CEO of the Rumie Initiative and former CIO for sustainable investing at BlackRock, challenges the effectiveness of ESG funds in driving real change. He discusses the illusion of corporate social responsibility and the superficial commitments made by companies. Fancy emphasizes the need for government intervention instead of relying on voluntary corporate actions. He critiques the limitations of ethical investing and advocates for structured regulations to promote genuine accountability and sustainability.

In this episode, Anthony Scaramucci interviews Tariq Fancy, a Canadian entrepreneur and former investment banker. They discuss topics such as Charlie Munger, Canadian bank branch closures, transitioning silver assets into gold, thoughts on the S&P, and the terrifying nature of deflation. They also touch on the impact of smartphones on learning, groupthink in markets, dollar cost averaging, and owning mistakes.

Ruth Sunderland, the group business editor of the Daily Mail and Mail on Sunday, asks industry leaders and thinkers about the purpose of companies. Should they be organisations designed to generate profits for the benefit of shareholders, or do they have a bigger role to play in society? What part do they play in environmental policy? Ruth investigates ESG investments, which claim to promote environmental, social and corporate governance best practice, and have become a trillion pound industry. Why has ESG become a flashpoint in the US political culture wars and could the same happen in the UK?Presenter: Ruth Sunderland Producer: Farhana Haider Editor: Clare Fordham Sound Engineer: Nicky Edwards Production Coordinator: Maria OgundeleContributors: Mark Goyder Founder, Tomorrows Company Euan Munro, Chief Executive, Newton Investment Management Merryn Somerset Webb, Senior Columnist at Bloomberg. Philip Gill, small Investor Giulia Chierchia, Executive Vice President for Strategy, Sustainability, and Ventures at BP Louise Oliver, Co-Founder, Piercefield Oliver Chartered Financial Planners Rachel, Small investor Dr Nina Seega, Director for the Centre for Sustainable Finance at the Cambridge Institute of Sustainability Leadership Tariq Fancy, Former Chief Investment officer for Sustainability Investing at BlackRock Witold Henisz, Vice Dean and faculty director of the ESG initiative at the Wharton School, University of Pennsylvania

Tariq Fancy, the Founder and CEO of The Rumie Initiative and former Chief Investment Officer for Sustainable Investing at BlackRock, critiques the effectiveness of ESG investing, calling it a 'dangerous placebo.' He discusses the influence of corporate lobbying on public policy and the disconnect between ESG concepts and real societal change. Tariq emphasizes the need for government intervention to address urgent issues like climate change, while reflecting on current market dynamics and the challenging financial landscape.