If we have said it once we have said it a thousand times: “G” is what matters in ESG investing.
The “G” stands for Governance. Nothing is more determinant to a company’s success than the people who lead that company, beginning with the CEO (which of course is the reason why we started CEORater 5 years ago). Today, Asset Managers commonly tout their ESG practices. ESG is a bunch of marketing nonsense as far as we are concerned. Therefore, we take pleasure in articles such as in today’s WSJ which states that the CEO of Deutsche Bank’s DWS Asset Management arm will step down on June 10th as it relates to charges of “greenwashing” at the firm. “Greenwashing” is when asset management firms/funds make misleading statements about their products or ESG credentials. Read more HERE.