But has the rapid rise of funds that prioritize environmental, social and governance — or “ESG” — issues actually helped achieve these goals? A crackdown by regulators is forcing the investment community to grapple with these questions, generating uncertainty about the future of Wall Street’s ESG fervor. “The measures taken by the public prosecutor’s office are directed against unknown persons in connection with greenwashing allegations made against DWS,” Deutsche Bank said in a statement. Tesla CEO Elon Musk recently tweeted that ESG “is a scam” that’s “been weaponized by phony social justice warriors.”His criticism came after Tesla was kicked out of the S&P 500’s prominent ESG index. What happens next: The Biden team has emphasized that fighting inflation is mostly the Fed’s job now.

Source: CNN June 01, 2022 18:49 UTC