Trump victory no threat to ESG funds, assures Impax CEO
Ian Simm, founder and CEO of Impax Asset Management, believes that investment funds emphasizing environmental, social, and governance (ESG) factors can withstand a potential victory by Donald Trump in the upcoming US Presidential election.
ESG has drawn criticism from Trump and other Republicans, who label it as “woke capitalism” or “radical left garbage.” Trump has also criticized wind power and electric cars.
However, renewable energy has become more cost-effective than fossil fuels in numerous instances, and initiatives to localize solar and electric vehicle supply chains have provided benefits to many Republican districts and states.
Also read: Bloomberg’s Zero Podcast examines impact of Trump’s comeback on US climate goals
“If we end up with a Republican-dominated administration in the United States from January next year then it’s quite possible that there will be more pressure on asset owners in the United States to reduce their ethical interventions or requirements from investment,” said Simm.
“But our view is that it’s hard to see the momentum stopping or even slowing down in the economic transformation in favor of clean industries.”
CalPERS allocates nearly $10 billion to climate action...
-
The California Public Employees’ Retir...
- 05/07/2024
Eco-gamers launch online video game to target asset...
-
A team of eco-gamers known as Serious Pe...
- 01/07/2024
EU regulators push for revisions in landmark ESG...
-
Regulators overseeing the markets, banki...
- 19/06/2024
Related News
ERM, a sustainability consultancy company, announced that it has commenced offshore trials to test the key elements of its Dolphyn Hydrogen process. The trials mark […]
European Energy announced that it had acquired grid connection approvals for nearly 500 megawatts (MW) of solar and wind energy projects across Romania. The approvals […]
In its second-quarter update, Shell announced that it would incur an impairment charge of up to $2 billion following the sale of its Singapore refinery […]
The California Public Employees’ Retirement System (CalPERS) announced a commitment of almost $10 billion to advancing global efforts to transition to a low-carbon economy. This […]
The European Commission announced that it has approved a €10.82 billion French scheme to support offshore wind energy deployment. It aims to help foster a transition […]
ENGIE announced that it signed a 7-year Biotmethane Purchase Agreement (BPA) with BASF. According to the agreement, ENGIE will supply the chemicals company with 2.7 […]