Vanguard—one of the two largest money management companies in America—shocked the industry recently when they announced its withdrawal from an anti-fossil fuels industry alliance. 

In a recent interview with the Financial Times, CEO Tim Buckley not only defended that move, but went on to say that Vanguard’s research shows no benefit to ESG investing and investment firms should basically stay out of politics—and let boards of directors govern in the interest of shareholders, not hot button political issues.

This is big. 

It's been a terrible year for ESG and politicized capital. Blackrock's been getting fired by red state pension managers, left-wing proposals are getting voted down and now one of the most prestigious names in finance is shifting in rhetoric. 

Will they walk the talk? 

We'll see, but the shift in rhetoric alone is a big win for advocates of the separation of investment and politics. 

Vanguard—one of the two largest money management companies in America—shocked the industry recently when they announced its withdrawal from an anti-fossil fuels industry alliance. 
In a recent interview with the Financial Times, CEO Tim Buckley not only defended that move, but went on to say that Vanguard’s research shows no benefit to ESG investing and investment firms should basically stay out of politics—and let boards of directors govern in the interest of shareholders, not hot button political issues.
This is big. 
It's been a terrible year for ESG and politicized capital. Blackrock's been getting fired by red state pension managers, left-wing proposals are getting voted down and now one of the most prestigious names in finance is shifting in rhetoric. 
Will they walk the talk? 
We'll see, but the shift in rhetoric alone is a big win for advocates of the separation of investment and politics.

The Townhall Review is a one-stop-shop for relevant news and intelligent analysis from the leading talk show hosts in the nation: Hugh Hewitt, Dennis Prager, Mike Gallagher,Sebastian Gorka, and Charlie Kirk.

The Townhall Review is a one-stop-shop for relevant news and intelligent analysis from the leading talk show hosts in the nation: <a href="http://www.hughhewitt.com" data-slimstat="5">Hugh Hewitt</a>, <a href="http://dennisprager.com" data-slimstat="5">Dennis Prager</a>, <a href="https://www.mikeonline.com" data-slimstat="5">Mike Gallagher,</a>  <a href="https://sebgorka.com" data-slimstat="5">Sebastian Gorka</a>, and <a href="https://989theanswer.com/radioshow/8875" data-slimstat="5">Charlie Kirk</a>.

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