This Week in ESG and Impact Investing

From:  The Current State of Black Banking . August 12, 2016.  On April 28, 2003, several major US investment banks, including J.P. Morgan Chase (JPMC), were embroiled in aiding and abetting efforts to defraud investors, leading to a fine of $1.4 billion imposed by the SEC. Despite the severity of their fraudulent actions, the repercussions for these institutions seemed inadequate to deter future unethical practices. In 2012, the LIBOR scandal brought to light a series of deceitful maneuvers linked to the London Inter-bank Offered Rate. Banks unscrupulously manipulated interest rates to bolster their own profits or portray themselves as more creditworthy than they actually were. This scandal, involving approximately $350 trillion in derivatives, stands as an unparalleled financial scam in history. Unfortunately, the punishment meted out to the involved institutions did not seem to be a sufficient deterrent against future misconduct. These incidents serve as a backdrop for ex...

The event featured a discussion with Jeff Goodell, the author of "The Heat Will Kill You First: Life and Death on a Scorched Planet." The conversation was hosted by Washington Post Live on July 24, 2023, and focused on the alarming rise of extreme heat events across the Northern Hemisphere and their implications for human health, ecosystems, and global climate. Mr. Goodell emphasized that the extreme temperatures witnessed in North America, Asia, and Europe were not entirely surprising, as scientists had long warned about the consequences of increasing global temperatures due to the burning of fossil fuels and the resulting buildup of CO2 in the atmosphere. However, the severity of these heat waves had reached dangerous levels, pushing the limits of human and ecological resilience. During the discussion, the impacts of extreme heat on human health were highlighted, especially for vulnerable populations such as older adults, pregnant women, and outdoor workers. High temperatu...

An important discussion took place regarding shareholders and stakeholders. The " Roundtable on Empowering Shareholders and Stakeholders and the Importance of ESG Disclosures " hosted by the House Financial Services Committee, was held on July 12, 2023. This event was designed to emphasize the significance of transparency in disclosing information about a company's sustainability and social responsibility while providing a platform for shareholders and stakeholders to discuss future directions.  During the event, participants engaged in conversations and exchanged ideas regarding the role of shareholders and stakeholders in corporate decision-making processes. The discussions explored ways to strengthen their involvement and influence in shaping company strategies, emphasizing environmental, social, and governance considerations. Additionally, the event highlighted the significance of ESG disclosures. ESG disclosures refer to the reporting of a company's environmenta...

Since assuming office, President Joe Biden has implemented an economic agenda known as Bidenomics , aiming to replace the dominant greed based Chicago-school economic approach with a more effective and inclusive set of economic principles. This article examines key elements of Bidenomics, comparing it to past policies and exploring its potential to drive job growth, address income inequality, and promote competition. Job Growth: Contrasting Strategies A notable distinction between the Biden and Trump administrations' lies in their approaches to job growth. The Trump administration relied on "trickle-down" theory, promising that tax cuts for the wealthy would benefit everyone. This policy proved ineffective. In contrast, Bidenomics adopts a "bottom-up" approach that prioritizes support for the middle class and working families.  Under President Biden, the United States has witnessed a resurgence in job growth. By focusing on investments in infrastructure, clean e...

Global Transformation Remains Elusive. Recent developments in the global financial landscape, including the resurgence of digital currencies and the first inclusive global financial summit in Paris, have undeniably captured the attention of the finance world. These developments, which seemingly promise a new era of integration, transformation, and collaboration, hold significant implications for the future of finance and international economic dynamics. However, amidst the excitement, it is crucial to recognize the formidable obstacles that still stand in the way of realizing these lofty ambitions. The resurgence of Bitcoin, with its staggering surge year-to-date from a low of $16,486 to a high at $31,392, is often hailed as a testament to its enduring relevance. It would, however, be remiss to overlook the inherent risks and uncertainties that accompany such a volatile digital asset. The unprecedented support from influential financial institutions like BlackRock and Fidelity adds an...