Political Quotes

“Let me pose a question to everybody in here. Why do pension fund managers, why do State treasurers, why do individual investors invest in ESG funds? Well, I will give you a hint. It is the same reason that they invest in high-yield bonds or mid-cap international equities or real estate investment trusts or anything else that is a part of a diversified portfolio. It is because they believe that it will make them more money; not ``know.'' None of us know, but they believe. Maybe my colleagues across the aisle don't believe that companies that attract and retain diverse talent create more long-term value. Maybe my colleagues across the aisle don't believe that climate change is real and don't believe that companies who are repositioning their assets for a world with higher sea levels, with more frequent forest fires, and with rapidly moving consumer demand in favor of cheaper, cleaner energy are better positioned to win the future. That is your right. Nobody is telling you that you have to wake up and stop investing in sleepy companies that are missing out on what is happening in the future. Yet, here we are. Having defended your right to invest however you want, you are now saying that fiduciaries with opinions different from your own should not be free to invest as they see fit. That is not pro- market.…”