In The New York Times, Josh Lichtenstein Discusses Investing and the ESG Backlash
A widely accepted and decades old trend in financial circles, socially conscious or ESG investing has been pulled into the cross hairs of a partisan political battle. Conservative politicians and lawmakers at the state and federal levels have publicly denounced ESG investment as “woke” and put forth laws that would restrict its consideration in investment decisions. More than $18 trillion is held in investment funds that follow the ESG investing principle, a strategy that has been adopted by major corporations around the globe.
Josh Lichtenstein, partner and head of the firm’s ERISA and fiduciary benefits practice, commented in The New York Times on how many industry professionals are baffled by sudden controversy over the topic. “Until very recently it was both obscure and also just accepted as a general part of investing,” he said.