Vanguard Bucks the ESG Orthodoxy

[cmm3rd]

This WSJ Opinion article is noteworthy, especially for investors in Vanguard funds.

Vanguard’s CEO Bucks the ESG Orthodoxy Tim Buckley pulls out of the Net Zero Managers initiative and affirms his fiduciary duty to clients.
https://www.wsj.com/articles/vanguards- ... _now_opn_4

There are many excellent points made. Guess they finally understand what fiduciary responsibility is. Maybe they heard from a few investors who told them to do this or redeem their accounts.

Hopefully other large fund managers will follow suit. If they do, maybe we'll see more normal valuations of fossil fuel energy producers.

[dan_s]

I will be commenting on this "Big Paradigm Shift" in the next edition of The View from Houston, which will be published tomorrow morning.