Are you investing in woke political activism? 5 questions you need to ask – Fox Business
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It’s 2023 – do you know where your money is?
Most Americans think they know the answer to this question. Millions of everyday investors entrust their money to wealth managers, 401(k) plan administrators and pension funds.Their job is to make your money work for you while you’re busy doing your job and raising your family. But slowly over the last few years and increasingly since 2020, instead of working to make your money grow as much as it possibly can, more and more financial professionals have allowed political agendas to influence their decisions.
That means that right now, in boardrooms of companies across the country, your money is being used in ways that don’t align with your values. With your retirement funds and investments, trillions of dollars in capital is being used to advance “racial equity audits,” environmental pledges and boardroom gender quotas.
WHAT IS ESG? INVESTING WITH ENVIRONMENTAL, SOCIAL AND GOVERNANCE IN MIND
It’s all part of the latest fad on Wall Street: ESG, which stands for “environmental, social and governance.” These are three factors by which some corporate activists, looking to advance a political agenda, judge the companies they invest in.
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Some of the most powerful corporate activists are the asset managers whose job is to invest American’s pensions and 401ks and other funds into publicly traded U.S. companies like Apple, Exxon, Chevron and Disney. The “Big 3” asset managers – BlackRock, State Street, and Vanguard – collectively manage nearly $20 trillion, about the size of the entire U.S. GDP.
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So when powerful asset managers speak, companies are incentivized to listen. Lately, they’ve been listening to some bad advice, driven by the ESG obsession among some asset managers. Much of this influence is wielded behind closed doors, but every investor has the right to know whether their money is being funneled to companies to further a political agenda.
You can start by asking your financial advisor, 401(k) plan administrator or pension fund board member these questions:
*Have I invested in any funds that voted my shares in favor of racial equity audits?
*Have I invested in any funds that voted my shares in favor of emissions reduction plans or executive …….