Back to Learn page

Why Are Students Pushing Universities To Divest?

5 min read
06 Sep, 2022
By Ilana Cohen

I arrived at Harvard as a first-year student in the fall of 2018. I was passionate about climate justice even as an incoming freshman. So you can imagine my surprise when I found out that my own university was also a corporation actively investing in the destruction of the homes of me and my peers, and the future of our society.

This is not hyperbole. Harvard is governed by the Harvard Corporation, which manages a $52 billion endowment fund that up until recently included holdings in the fossil fuel companies driving the climate crisis.

Like me, many students enter college with little to no idea of what endowments are or just how vast a social and political impact universities have through them. Endowments are large pots of money that universities invest to generate income. They are set up to ensure the financial future of a university and enable it to provide for generations of students, faculty, and community members to come. But when invested in fossil fuel companies, the only futures these funds safeguard effectively are those of the extractive industries wrecking our planet, as well as the vested interests behind them.

Divestment, or the act of removing one’s investment, works to change that paradigm. It helps transform endowments from instruments of corporate finance into reflections of the needs, interests, and concerns of the university and broader community. Simply put, an institution of higher education cannot realize its espoused commitments to climate action, social justice, and preparing young people to be tomorrow’s leaders while investing in a status quo that prevents this from happening.

Prestigious and wealthy universities have a unique responsibility to be leaders in divestment, and some have taken steps towards doing so. Harvard finally moved to divest in fall 2021 after years of tireless student organizing and massive public pressure. But other well-known universities, like Stanford, have yet to divest.

Fossil fuel investments and other ties to the fossil fuel industry also create an inherent conflict of interest that jeopardizes universities’ core academic and research missions. Consider, for instance, how many universities continue to accept vast sums of fossil fuel funding for climate change-related research, despite a well-documented pattern of distorted research outcomes resulting from funding by companies with an oppositional agenda. No major fossil fuel company is truly aligned with the demands of climate science or justice. Many continue to launch concerted campaigns spreading climate misinformation and opposing climate action. So it is clear that the industry cannot be a trustworthy partner in the production of public knowledge and ultimately, policy, on climate. By allowing fossil fuel companies to use their credibility — whether through investments that sustain these companies’ core business model or research partnerships that bolster their greenwashing — universities make themselves complicit in climate breakdown and undermine their own potential for urgently-needed climate leadership.

Already, asset managers controlling nearly $40 trillion worth of funds have pledged to divest from fossil fuels because they recognize the need to align their financial practices with their principles. They also recognize the overwhelming evidence that divestment works. And they know that without taking a bold stance against fossil fuels and other industries undermining our sustainable future, they’ll lose the chance to have young people like myself as potential customers, employees, supporters, and so on. Regardless of the reason, the choice to divest must be applauded. But to truly lead on climate, institutions like Harvard must take the next step of severing remaining fossil fuel industry ties, by doing things like banning fossil fuel research money and recruitment on campus, or reinvesting in community-based and renewable energy solutions.

Still, some asset managers and fund trustees (unsurprisingly, some with personal ties to the fossil fuel industry) continue to make the same tired and bad faith arguments about the value of engaging with the fossil fuel industry as shareholders. We know that such engagement does not work when the core business model is the problem. And it cannot work when the fossil fuel industry makes it abundantly clear that it’s unwilling to let this model go so long as any potential profit remains — no matter the cost to the environment or human life. That is why young people must continue leading the way in calling for total divestment. It is not an option but the only option for moneyed institutions to play a positive role in combating climate change.

Actions and dollars, too, speak louder than words. Ending fossil fuel finance and other forms of social license-giving to the fossil fuel industry is vital for remaking our energy and economic systems in favor of people and the planet. The case is as strong as ever: with Russia’s war on Ukraine making the instability of a global fossil fuel economy uniquely clear, we need to push our institutions to be champions of this remaking, instead of dragging their heels.

 

∙ ∙ ∙

The views expressed are those of the author at the time of writing, are not necessarily those of the firm as a whole and may be subject to change. The information contained in this advertisement is for informational purposes and should not be regarded as an offer to sell or a solicitation of an offer to buy any. It does not constitute a recommendation or consider the particular investment objectives, financial conditions, or needs of specific investors. Investing involves risk, including the loss of principal. Past performance is not indicative or a guarantee of future performance. We do not provide tax, accounting, or legal advice to our clients, and all investors are advised to consult with their tax, accounting, or legal advisers regarding any potential investment. The information and any opinions contained in this advertisement have been obtained from sources that we consider reliable, but we do not represent such information and opinions are accurate or complete, and thus should not be relied upon as such. This is particularly true during periods of rapidly changing market conditions. Securities offered through Fennel Financials, LLC. Member FINRA SIPC.

Expand your knowledge further

<p>How many times have we followed a trend just to fit in with the &ldquo;cool kids&rdquo; even if meant being untrue to ourselves? The reality is, many of us have fallen prey to peer pressure at some point. But individuals aren&rsquo;t the only ones who conform to a trend to stay relevant. Businesses do too, and because ESG (Environmental, Social, and Governance) and sustainability are the hot topics of today, many companies partake in something called &ldquo;greenwashing.&rdquo;&nbsp;</p> <p>&nbsp;</p> <h4><strong>Why greenwash?</strong></h4> <p><a href="https://earth.org/what-is-greenwashing/">Greenwashing</a>&nbsp;is defined as the process of making misleading statements, in order to market a company or its products as being environmentally sustainable.&nbsp;<a href="https://corporatefinanceinstitute.com/resources/knowledge/other/greenwashing/">Some examples of greenwashing are</a>:&nbsp;</p> <ul> <li aria-level="1">Making vague or false environmental claims that are not backed up by hard evidence or third-party certifications&nbsp;</li> <li aria-level="1">Placing emphasis on irrelevant issues (for example,&nbsp;saying a phone is &ldquo;CFC-free&rdquo; when CFCs are already banned by law)&nbsp;</li> <li aria-level="1">Hiding &ldquo;trade-offs&rdquo; &mdash; essentially, highlighting small&nbsp;environmental victories in order to mask a larger, potentially more concerning issue (for example, banks advertising their issuing of sustainable bonds while financing companies that harm the environment)&nbsp;</li> </ul> <p>Greenwashing is&nbsp;<a href="https://www.nasdaq.com/articles/are-companies-as-green-as-theyd-have-you-believe-2021-06-21">on the rise</a>&nbsp;as companies that boast of high ESG scores and sustainable practices are gaining traction in both financial and non-financial aspects. We&rsquo;ve seen the S&amp;P 500 ESG Index beat the S&amp;P 500 Index&nbsp;<a href="https://www.spglobal.com/spdji/en/indices/esg/sp-500-esg-index/#overview">since the first market slump in early 2020</a>,&nbsp;<a href="https://www.reuters.com/business/sustainable-business/global-sustainable-bonds-see-record-issuance-jan-sept-2021-2021-10-12/">record issuance</a>&nbsp;of sustainable bonds in the year 2021,&nbsp;<a href="https://www.mckinsey.com/~/media/McKinsey/Business%20Functions/Strategy%20and%20Corporate%20Finance/Our%20Insights/Five%20ways%20that%20ESG%20creates%20value/Five-ways-that-ESG-creates-value.ashx">studies</a>&nbsp;that show ESG factors drive consumer preference, and customers&nbsp;<a href="https://www.forbes.com/sites/gregpetro/2022/03/11/consumers-demand-sustainable-products-and-shopping-formats/">willing to pay a premium to go green</a>. As a result, many companies may try to emulate this success by exaggerating how environmentally sustainable they really are.</p> <p>Some companies resort to greenwashing as they come under pressure to comply with environmental industry standards or regulatory requirements. One such example is when&nbsp;<a href="https://www.bbc.com/news/business-34324772">Volkswagen admitted to cheating</a>&nbsp;government-required emissions tests by fitting various vehicles with &ldquo;defeat devices.&rdquo;</p> <p>&nbsp;</p> <h4><strong>The rewards of being truly sustainable are sustainable</strong></h4> <p>What companies sometimes forget is that greenwashing is not sustainable (pun unintended). Those who greenwash risk getting exposed by an informed consumer or a gatekeeping group, which can backfire on the company&rsquo;s reputation. A recent example would be when&nbsp;<a href="https://www.dezeen.com/2019/08/02/hm-norway-greenwashing-conscious-fashion-collection-news/">H&amp;M launched its &ldquo;green&rdquo; clothing line called Conscious</a>. In this instance, the retailer claimed to use organic cotton and recycled polyester, but didn&rsquo;t provide enough evidence to back up its marketing. The company then faced criticism for misleading claims</p> <p>In the case that the truth behind an organization&rsquo;s greenwashing claims goes uncovered, it is still at a loss as it only enjoys the superficial benefits of being a &ldquo;responsible&rdquo; business. It doesn&rsquo;t reap the added value that actual sustainable business can receive &mdash; like&nbsp;<a href="https://www.bain.com/insights/sustainability-your-brands-next-cost-saving-weapon/">lower operational costs</a>,&nbsp;<a href="https://www.globenewswire.com/news-release/2019/01/10/1686144/0/en/CGS-Survey-Reveals-Sustainability-Is-Driving-Demand-and-Customer-Loyalty.html">loyal customers</a>, or&nbsp;<a href="https://www.cfachicago.org/wp-content/uploads/2020/10/Blog_-Managing-Risk-with-ESG-Investing.pdf">positive shareholder returns</a>.</p> <p>&nbsp;</p> <h4><strong>Greenwashing faces legal implications in the future</strong></h4> <p>Most importantly, responsible ESG practices minimize regulatory and legal interventions, which in turn means less negative publicity and fines. This is exemplified in Volkswagen&rsquo;s case, wherein the car manufacturer was fined $125 million for its emissions scandal, and saw further losses as a result of having to recall close to 12 million of its cars worldwide. The spiral translated into&nbsp;<a href="https://fortune.com/2020/10/06/volkswagen-vw-emissions-scandal-damages/">business losses</a>&nbsp;and&nbsp;<a href="https://fortune.com/2015/09/23/volkswagen-stock-drop/">negative shareholder returns</a>.</p> <p>The greenwashing crackdown will continue with new environmental laws being written. The&nbsp;<a href="https://research.hktdc.com/en/article/MTAzNDU1OTc0Nw">EU has decided to amend its new consumer rules</a>&nbsp;to address greenwashing concerns, requiring producers to provide greater transparency on product information to avoid misleading claims. The UK is also targeting greenwashing with the Competition and Markets Authority&rsquo;s&nbsp;<a href="https://www.whitecase.com/publications/alert/uk-clampdown-greenwashing">Green Claims Code</a>.</p> <p>Organizations are driven towards greenwashing because of peer, consumer, or legal pressures. However, by doing so these businesses miss out on the true benefits of being sustainable.They also might expose themselves to the threat of legal action as more legislation is being drafted against greenwashing. As a result, these companies risk reputational damage, financial losses, and negative returns for stakeholders. Until regulators catch up to all the companies engaging in greenwashing, it&rsquo;s up to us to be on the lookout for common greenwashing tactics, and stay fully informed about the purchases and investments we make.</p> <p>&nbsp;</p> <p style="padding-left: 440px;"><strong>∙ ∙ ∙</strong></p> <p><em>The views expressed are those of the author at the time of writing, are not necessarily those of the firm as a whole and may be subject to change. The information contained in this advertisement is for informational purposes and should not be regarded as an offer to sell or a solicitation of an offer to buy any. It does not constitute a recommendation or consider the particular investment objectives, financial conditions, or needs of specific investors. Investing involves risk, including the loss of principal. Past performance is not indicative or a guarantee of future performance. We do not provide tax, accounting, or legal advice to our clients, and all investors are advised to consult with their tax, accounting, or legal advisers regarding any potential investment. The information and any opinions contained in this advertisement have been obtained from sources that we consider reliable, but we do not represent such information and opinions are accurate or complete, and thus should not be relied upon as such. This is particularly true during periods of rapidly changing market conditions. Securities offered through Fennel Financials, LLC. Member&nbsp;</em><a href="https://www.finra.org/"><em>FINRA</em></a><em>&nbsp;</em><a href="https://www.sipc.org/"><em>SIPC</em></a><em>.</em></p>
ESG
Environmental
What Is Greenwashing?

Greenwashing is a superficial and sometimes misleading way companies claim sustainability.

Shivani Hemnani
15 Aug, 2022
3 min read
<p><span style="font-weight: 400;">Today&rsquo;s consumers care about </span><a href="https://www.businessnewsdaily.com/15087-consumers-want-sustainable-products.html"><span style="font-weight: 400;">buying environmentally friendly products</span></a><span style="font-weight: 400;">, but that doesn&rsquo;t mean companies should market their products as such unless they can really back it up.</span></p> <p><span style="font-weight: 400;">A </span><a href="https://www.europarl.europa.eu/news/en/press-room/20230918IPR05412/eu-to-ban-greenwashing-and-improve-consumer-information-on-product-durability"><span style="font-weight: 400;">proposed law</span></a><span style="font-weight: 400;"> by the European Union may be one of the strictest crackdowns to date on </span><a href="https://fennel.com/blog/what-is-greenwashing"><span style="font-weight: 400;">&ldquo;greenwashing&rdquo;</span></a><span style="font-weight: 400;">&mdash;which is using empty or vague claims about environmental sustainability as a form of marketing.</span></p> <p><span style="font-weight: 400;">EU parliament members agreed to propose a ban on &ldquo;generic environmental claims&rdquo; like &ldquo;environmentally friendly,&rdquo; &ldquo;natural,&rdquo; &ldquo;biodegradable,&rdquo; &ldquo;climate neutral,&rdquo; and &ldquo;eco&rdquo; unless those claims can be backed up by scientific evidence.</span></p> <p><span style="font-weight: 400;">In addition, the EU rule would ban using the term &ldquo;carbon neutral&rdquo; or &ldquo;carbon negative&rdquo; for marketing purposes if that company relied on carbon offsetting to reduce its carbon footprint.</span></p> <p><span style="font-weight: 400;">Carbon offsets allow companies to finance projects that remove carbon from the atmosphere, like planting trees or restoring forests. However, the practice is </span><a href="https://www.bloomberg.com/news/articles/2023-08-30/are-carbon-offsets-a-good-solution-to-the-climate-change-crisis?utm_source=Iterable&amp;utm_medium=email&amp;utm_campaign=campaign_-12345"><span style="font-weight: 400;">somewhat controversial</span></a><span style="font-weight: 400;"> because it can be hard to verify their integrity, and because some see offsets as a band-aid solution that allows companies to get away with not reducing their actual carbon emissions.</span><span style="font-weight: 400;"><br /></span><span style="font-weight: 400;"><br /></span><span style="font-weight: 400;">Banning this type of &ldquo;carbon neutral&rdquo; marketing would be substantial because many companies rely on carbon offsetting to reduce their carbon footprint&mdash;from </span><a href="https://sustainability.aboutamazon.com/climate-solutions"><span style="font-weight: 400;">Amazon</span></a><span style="font-weight: 400;"> to </span><a href="https://apnews.com/article/delta-airlines-lawsuit-carbon-credits-carbon-neutral-469f2671010ba7f40c934cc23d62149a"><span style="font-weight: 400;">Delta Air Lines</span></a><span style="font-weight: 400;">, and </span><a href="https://www.benzinga.com/markets/esg/23/05/32547591/disney-shell-gucci-allegedly-used-worthless-carbon-credits-as-top-certifiers-ceo-resigns"><span style="font-weight: 400;">Disney</span></a><span style="font-weight: 400;">. While this rule doesn&rsquo;t ban carbon offsetting itself, it would prevent offsetting from being used to justify &ldquo;carbon neutral&rdquo; claims.</span></p> <p><span style="font-weight: 400;">&ldquo;We are clearing the chaos of environmental claims, which will now have to be substantiated, and claims based on emissions offsetting will be banned,&rdquo; EU lawmaker Biljana Borzan said in a statement.</span></p> <p><span style="font-weight: 400;">On top of the rules that target greenwashing, the proposed law also has rules regarding product durability and planned obsolescence. These rules include a ban on prompting customers to replace a product earlier than strictly necessary, durability claims unless backed up with evidence, and presenting goods as repairable when they are not.</span></p> <p><span style="font-weight: 400;">Members of European Parliament are expected to vote on this set of rules in November. If approved, member states will have 24 months to incorporate these rules into law (i.e. by 2026).</span></p> <p><span style="font-weight: 400;"><br /></span><span style="font-weight: 400;"><br /></span><strong>Read more:</strong><span style="font-weight: 400;"> </span><a href="https://fennel.com/blog/what-is-greenwashing"><span style="font-weight: 400;">What Is Greenwashing?</span></a></p> <p>&nbsp;</p> <h4><strong>Questions for Retail Investors to Consider:</strong></h4> <p><span style="font-weight: 400;">∙ How will these rules affect international companies that operate both in and outside of the EU?</span></p> <p><span style="font-weight: 400;">∙ Do you think rules like these would work in the US?</span></p> <p><span style="font-weight: 400;">∙ Will we see a dropoff in environmentally-focused marketing from big companies?</span></p> <p><br /><br /><br /></p> <p style="text-align: center;"><strong>∙ ∙ ∙</strong></p> <p><span style="font-weight: 400;">The views expressed are those of the author at the time of writing, are not necessarily those of the firm as a whole and may be subject to change. The information contained in this advertisement is for informational purposes and should not be regarded as an offer to sell or a solicitation of an offer to buy any. It does not constitute a recommendation or consider the particular investment objectives, financial conditions, or needs of specific investors. Investing involves risk, including the loss of principal. Past performance is not indicative or a guarantee of future performance. We do not provide tax, accounting, or legal advice to our clients, and all investors are advised to consult with their tax, accounting, or legal advisers regarding any potential investment. The information and any opinions contained in this advertisement have been obtained from sources that we consider reliable, but we do not represent such information and opinions are accurate or complete, and thus should not be relied upon as such. This is particularly true during periods of rapidly changing market conditions. Securities offered through Fennel Financials, LLC. Member </span><a href="http://finra.org/"><span style="font-weight: 400;">FINRA</span></a><span style="font-weight: 400;"> </span><a href="https://www.sipc.org/"><span style="font-weight: 400;">SIPC</span></a><span style="font-weight: 400;">.</span></p>
Environmental
ESG
EU Is Banning “Carbon Neutral” Marketing and Other Greenwashing Terms

The EU has recently unveiled some strict rules against greenwashing.

Fennel
28 Sep, 2023
2 min
<p><span style="font-weight: 400;">It seems like nowadays every company has set net-zero emissions targets or made some sort of sustainability pledge. While this has been going on for a number of years, the number of companies making these commitments </span><a href="https://www.axios.com/2023/11/06/company-net-zero-targets-un-climate-goals-study"><span style="font-weight: 400;">has been on the rise</span></a><span style="font-weight: 400;">.</span></p> <p><span style="font-weight: 400;">What&rsquo;s rarer, though, is companies that are already beginning to walk back their sustainability goals.</span></p> <p><span style="font-weight: 400;">But this may actually be a good thing.</span></p> <p><span style="font-weight: 400;">Take a look at Unilever, the company that owns brands ranging from Dove, to Ben &amp; Jerry&rsquo;s, Hellmann&rsquo;s, Axe, Vaseline and Liquid IV. As a large, multinational corporation, it&rsquo;s been called out for its widespread impacts on the environment &mdash; including things like its </span><a href="https://www.ethicalconsumer.org/company-profile/unilever"><span style="font-weight: 400;">plastic pollution</span></a><span style="font-weight: 400;"> and </span><a href="https://friendsoftheearth.uk/nature/holding-unilever-responsible-its-conflict-palm-oil"><span style="font-weight: 400;">palm oil procurement</span></a><span style="font-weight: 400;">.</span></p> <p><span style="font-weight: 400;">Unilever saw the need to address these environmental concerns, launching a </span><a href="https://www.unilever.com/our-company/our-history-and-archives/2010-2020/"><span style="font-weight: 400;">&ldquo;Sustainable Living Plan&rdquo;</span></a><span style="font-weight: 400;"> in 2010, which emphasized its more sustainable brands and sought to reduce waste across the company. Afterwards, it announced a </span><a href="https://assets.unilever.com/files/92ui5egz/production/bbe89d14aa9e0121dd3a2b9721bbfd3bef57b8d3.pdf/unilever-climate-transition-action-plan-19032021.pdf"><span style="font-weight: 400;">&ldquo;Net Zero by 2039&rdquo;</span></a><span style="font-weight: 400;"> plan which aimed to reduce its scope 1, 2 and 3 emissions to zero by 2039.</span></p> <p><span style="font-weight: 400;">But in the first few years of its net zero plan, progress towards this goal </span><a href="https://planet-tracker.org/unilever-on-a-2c-trajectory-by-2030-with-key-challenges-linked-to-scope-3-emissions/"><span style="font-weight: 400;">still seemed minimal</span></a><span style="font-weight: 400;">, and even Unilever acknowledged this.</span></p> <p><span style="font-weight: 400;">In October, Unilever&rsquo;s CEO </span><a href="https://www.greenbiz.com/article/unilever-ceo-signals-radical-shift-sustainability-agenda"><span style="font-weight: 400;">decided to scrap</span></a><span style="font-weight: 400;"> its aspirational net zero plan in favor of a new, less ambitious goal.</span></p> <p><span style="font-weight: 400;">"We will do that not by setting a lot of aspirational goals that are so long term that none of us will be around to be held to account for them but instead by short-terming our work that is by making real, steady, meaningful progress on the big issues quarter on quarter, year on year," Unilever CEO Hein Schumacher </span><a href="https://www.greenbiz.com/article/unilever-ceo-signals-radical-shift-sustainability-agenda"><span style="font-weight: 400;">said</span></a><span style="font-weight: 400;">. "Time-bound, costed roadmaps will ensure we stay on track and we will hold ourselves accountable to targets that are explicit, stretching, transparent and measurable."</span></p> <p><span style="font-weight: 400;">While environmental activists may be less excited about Unilever&rsquo;s new &ldquo;composite score&rdquo; that associates environmental impact with other business goals. It demonstrates a reality check that Unilever was faced with.</span></p> <p><span style="font-weight: 400;">Unilever has been open about the challenges of actually getting a huge international corporation to net zero. Other companies have been more quiet, but still encounter similar issues.</span></p> <p><span style="font-weight: 400;">For example, Shell </span><a href="https://www.shell.com/media/news-and-media-releases/2021/shell-accelerates-drive-for-net-zero-emissions-with-customer-first-strategy.html"><span style="font-weight: 400;">made a net zero by 2050 commitment</span></a><span style="font-weight: 400;"> in 2021, but the company silently </span><a href="https://www.bloomberg.com/news/features/2023-08-31/shell-silently-abandoned-its-100-million-a-year-plan-to-offset-co2-emissions"><span style="font-weight: 400;">scrapped the plan</span></a><span style="font-weight: 400;"> just two years later.</span></p> <p><span style="font-weight: 400;">For an oil company like Shell, any net zero target will take a lot of work due to the carbon intensive nature of the industry. Two years ago Shell seemed unfazed, but now that it has had time to try to reach this goal &mdash; mainly through purchasing millions of carbon offsets &mdash; it&rsquo;s come face to face with the reality that it may have bitten off more than it could chew.</span></p> <p><span style="font-weight: 400;">In both Unilever and Shell&rsquo;s case, revising their net zero plans doesn&rsquo;t necessarily mean that they&rsquo;re done with sustainability. It&rsquo;s more of a wakeup call that if you pledge to do one thing, you actually have to do it.</span></p> <p><span style="font-weight: 400;">"I don&rsquo;t see this as part of the anti-woke pushback, remotely, but a reflection of the reality that as sustainability imperatives mainstream, the shotgun approach to commitments risks attacks for greenwashing and lowered overall impact," sustainability strategist John Elkington, who consults with Unilever, told </span><a href="https://www.greenbiz.com/article/unilever-ceo-signals-radical-shift-sustainability-agenda"><span style="font-weight: 400;">GreenBiz</span></a><span style="font-weight: 400;">.</span></p> <p><span style="font-weight: 400;">Other companies may likely go through the same process of making sustainability promises that they can&rsquo;t keep, and then switch to more achievable goals, which may be a good thing. Regulators are cracking down </span><a href="https://fennel.com/blog/eu-is-banning-carbon-neutral-marketing-and-other-greenwashing-terms"><span style="font-weight: 400;">more</span></a><span style="font-weight: 400;"> and </span><a href="https://www.sec.gov/news/press-release/2022-46"><span style="font-weight: 400;">more</span></a><span style="font-weight: 400;"> on greenwashing, and both investors and consumers are willing to call out companies that they believe aren&rsquo;t going far enough with sustainability.</span></p> <p><span style="font-weight: 400;">It seems like the mania of making far-off net zero pledges may fade, and companies may have to figure out ways to make more tangible, immediate sustainability changes. As the former solution ultimately translates to kicking the climate change can down the road, and people might not be fooled for much longer.</span></p> <p><br /><br /></p> <h4><strong>Questions for Retail Investors to Consider:</strong></h4> <p><strong>∙</strong><span style="font-weight: 400;"> Have any companies in your portfolio made net zero pledges? Have they reported progress on this goal?</span></p> <p><strong>∙</strong><span style="font-weight: 400;"> How can you tell when a sustainability pledge is good for business, or just lip service?</span></p> <p><strong>∙</strong><span style="font-weight: 400;"> How can sustainability goals differ from company to company?</span></p> <p><br /><br /></p> <p style="text-align: center;"><strong>∙ ∙ ∙</strong></p> <p><em><span style="font-weight: 400;">The views expressed are those of the author at the time of writing, are not necessarily those of the firm as a whole and may be subject to change. The information contained in this advertisement is for informational purposes and should not be regarded as an offer to sell or a solicitation of an offer to buy any. It does not constitute a recommendation or consider the particular investment objectives, financial conditions, or needs of specific investors. Investing involves risk, including the loss of principal. Past performance is not indicative or a guarantee of future performance. We do not provide tax, accounting, or legal advice to our clients, and all investors are advised to consult with their tax, accounting, or legal advisers regarding any potential investment. The information and any opinions contained in this advertisement have been obtained from sources that we consider reliable, but we do not represent such information and opinions are accurate or complete, and thus should not be relied upon as such. This is particularly true during periods of rapidly changing market conditions. Securities offered through Fennel Financials, LLC. Member </span><a href="http://finra.org/"><span style="font-weight: 400;">FINRA</span></a><span style="font-weight: 400;"> </span><a href="https://www.sipc.org/"><span style="font-weight: 400;">SIPC</span></a><span style="font-weight: 400;">.</span></em></p>
Environmental
ESG
Companies Walking Back Sustainability Goals May… Actually Be a Good Thing?

Over the past few years, plenty of companies have pledged to hit net zero carbon emissions by some far off date. But we’re already starting to see some companies backtrack on these promises.

Fennel
09 Nov, 2023
3 min
<p><em>With financial markets around the world still reeling from muddled efforts to curb a global pandemic, one financial notion seems to be gaining fresh support: ESG. However, much about ESG remains unexplored. Are ESG and risk management practices related? How can ESG be used to benefit organizations and investors from a risk standpoint? Does one of the three ESG pillars play a bigger role in terms of generating financial returns, utility, and risk management?</em></p> <p>&nbsp;</p> <p>Some investors have a hypothesis that ESG investments generate stronger, more sustainable returns over the long term, and this has been exemplified in the past couple of years. ESG investments, indices, and companies that keep considerations of the three factors at the forefront of their culture have bounced back higher than unbothered counterparts; for example, the S&amp;P 500 ESG Index has beat the S&amp;P 500 Index <a href="https://www.spglobal.com/spdji/en/indices/esg/sp-500-esg-index/#overview">since the first market slump in early 2020</a>, sustainable bonds have seen <a href="https://www.reuters.com/business/sustainable-business/global-sustainable-bonds-see-record-issuance-jan-sept-2021-2021-10-12/">record issuance in the year 2021</a>, and organizations with good ESG ratings <a href="https://www.cfachicago.org/wp-content/uploads/2020/10/Blog_-Managing-Risk-with-ESG-Investing.pdf">have displayed strong financial resilience</a> since the economic downturn.</p> <p>How can this phenomenon be explained? The answer lies in the fact that <a href="https://www2.deloitte.com/ie/en/pages/financial-services/articles/esg-risk-management-framework.html">ESG can work as a risk management strategy</a>; not just in financial terms, but also in view of management conditions and meeting regulatory requirements.</p> <p>A <a href="https://www.mckinsey.com/~/media/McKinsey/Business%20Functions/Strategy%20and%20Corporate%20Finance/Our%20Insights/Five%20ways%20that%20ESG%20creates%20value/Five-ways-that-ESG-creates-value.ashx">report published by McKinsey</a> tells us that good ESG practices could potentially lead to positive cash flows, as well as hedge financial and reputational risks due to the following reasons:</p> <ul> <li>ESG drives consumer preference as some customers are <a href="https://www.forbes.com/sites/gregpetro/2022/03/11/consumers-demand-sustainable-products-and-shopping-formats/">willing to pay a premium to go green</a>. McKinsey also found that companies that use sustainable practices in their supply chain are able to cut costs.</li> <li>Responsible reporting minimizes regulatory and legal interventions, which generates less negative publicity for an organization.</li> <li>Having generous social policies in place helps motivate and retain staff, as well as increase employee productivity, which has been found to <a href="https://www.sciencedirect.com/science/article/abs/pii/S0304405X11000869">positively correlate with shareholder returns.</a></li> <li>ESG practices help optimize investments and capital expenditures. One way to get ahead of the curve is to consider making investments into assets that take advantage of sustainability tailwinds. For example, China&rsquo;s efforts to curb air pollution is estimated to create <a href="http://www.chinadaily.com.cn/a/201804/18/WS5ad69dc6a3105cdcf6518f2c.html">over $3 trillion in investment opportunities across various industries</a> through 2030.</li> </ul> <p>&nbsp;</p> <h4><strong>Integrating ESG in business practices doubles as good risk management, which goes on to generate brand equity for companies and attract investors.</strong></h4> <p>Research has <a href="https://www.mdpi.com/2071-1050/12/1/254">found a positive relationship</a> between ESG scores and brand equity value of S&amp;P 500 companies. Good ESG incorporation mitigates reputational risks for an organization, and that is where investor confidence is built. In turn, investors manage financial risks by keeping exposures to ESG investments in their portfolios, which also helps them derive utility as they are inclined to feel that their investment decisions are part of a bigger movement to do better for the world.</p> <p>&nbsp;</p> <h4><strong>It's the Social and Governance factors that actually push away the risks.</strong></h4> <p>We constantly hear a lot of buzz surrounding the Environmental aspect which dominates sustainable investment allocations, but the value of the Social and Governance aspects which have a determining impact on sustainable practices, and as a result, risk management within an organization, are rarely ever given recognition.</p> <p>Taking a deep-dive into how the &ldquo;S&rdquo; and &ldquo;G&rdquo; areas are equally at play as the &ldquo;E&rdquo; in contributing to sound risk management within a company and yielding positive returns for investors, we delve into some research on how the three factors impact financial performance on an absolute basis.</p> <p>A <a href="https://www.google.com/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=&amp;ved=2ahUKEwi9kr_i48b3AhWTQc0KHfB2DUAQFnoECAYQAQ&amp;url=https%3A%2F%2Fjournals.vgtu.lt%2Findex.php%2FJBEM%2Farticle%2Fdownload%2F12725%2F9980&amp;usg=AOvVaw1dAd8rRWX31GFeB0IY3x9v">recent study</a> examined the overall and individual influences of corporate E, S, and G conduct on economic performance of S&amp;P 500 firms. A breakdown of the scores for each aspect across companies from different industries and their correlation with the respective companies&rsquo; economic performances were looked at. The results may be surprising at first look: Corporate &ldquo;E&rdquo; conduct does not have any significant effect on firm economic performance, while conduct for &ldquo;S&rdquo; and &ldquo;G&rdquo; significantly influences firm economic performance.</p> <p>The Social and Governance components are key to the general practices of risk management; aiming to do justice to these elements in the day-to-day course of running a business ensures responsible and skilled management structures, risk ownership, and compliance with regulatory requirements.</p> <p>Here we covered reasons to explain these occurrences in the market &mdash; that ESG is an exceptional risk management tool for organizations internally, and also for investors in financial terms. More importantly, we saw that &ldquo;S&rdquo; and &ldquo;G&rdquo; are crucial to building optimal risk practices within a firm, which when combined with &ldquo;E&rdquo;, enhance the attractiveness of businesses and generate solid returns over the long term for investors.</p> <p>&nbsp;</p> <p><strong><u>References</u></strong></p> <p>Ajour, E. et al. (2020). <em>The Role of Sustainability in Brand Equity Value in the Financial Sector. </em>MDPI. Retrieved April 29, 2022, from <a href="https://www.mdpi.com/2071-1050/12/1/254">https://www.mdpi.com/2071-1050/12/1/254</a></p> <p>BNP Paribas SA Group (2021). <em>BNP Paribas recognized by EcoVadis and FTSE4Good extra-financial ratings. </em>BNP Paribas. Retrieved May 06, 2022, from https://group.bnpparibas/en/news/bnp-paribas-recognized-by-ecovadis-and-ftse4good-extra-financial-ratings</p> <p>Cek, K. &amp; Eyupoglu, S. (2020). <em>Does environmental, social and governance performance influence economic performance? </em>Scopus. Retrieved April 29, 2022, from <a href="https://www.scopus.com/record/display.uri?eid=2-s2.0-85087457813&amp;origin=inward&amp;txGid=4864f78cdc725470874f18fec147c309&amp;featureToggles=FEATURE_NEW_DOC_DETAILS_EXPORT:1">https://www.scopus.com/record/display.uri?eid=2-s2.0-85087457813&amp;origin=inward&amp;txGid=4864f78cdc725470874f18fec147c309&amp;featureToggles=FEATURE_NEW_DOC_DETAILS_EXPORT:1</a></p> <p>Cheasty, G. (2019). <em>Asset Management: Integrating ESG Risk into a Risk Management Framework.</em> Deloitte. Retrieved April 22, 2022, from <a href="https://www2.deloitte.com/ie/en/pages/financial-services/articles/esg-risk-management-framework.html">https://www2.deloitte.com/ie/en/pages/financial-services/articles/esg-risk-management-framework.html</a></p> <p>Dorobantu, S., Henisz, W. &amp; Nartey, L. (2022). <em>Spinning gold: The financial returns to stakeholder engagement. </em>Wiley Online Library. Retrieved May 09, 2022, from <a href="https://onlinelibrary.wiley.com/doi/abs/10.1002/smj.2180">https://onlinelibrary.wiley.com/doi/abs/10.1002/smj.2180</a></p> <p>Edmans, A. (2011). <em>Does the stock market fully value intangibles? Employee satisfaction and equity prices. </em>ScienceDirect. Retrieved May 09, 2022, from <a href="https://www.sciencedirect.com/science/article/abs/pii/S0304405X11000869">https://www.sciencedirect.com/science/article/abs/pii/S0304405X11000869</a><br /><br />Henisz, W., Koller, T., and Nuttall, R. (2019). <em>Five ways that ESG creates value. </em>McKinsey Quarterly. Retrieved May 09, 2022, from https://www.mckinsey.com/~/media/McKinsey/Business%20Functions/Strategy%20and%20Corporate%20Finance/Our%20Insights/Five%20ways%20that%20ESG%20creates%20value/Five-ways-that-ESG-creates-value.ashx</p> <p>Lawrence, E., &amp; Zlatkova, S. (2020). <em>Managing risk with ESG investing - CFA society chicago</em>. Northern Trust Asset Management. Retrieved April 26, 2022, from <a href="https://www.cfachicago.org/wp-content/uploads/2020/10/Blog_-Managing-Risk-with-ESG-Investing.pdf">https://www.cfachicago.org/wp-content/uploads/2020/10/Blog_-Managing-Risk-with-ESG-Investing.pdf</a></p> <p>Murugaboopathy, P., &amp; Dogra, G. (2021). <em>Global sustainable bonds see record issuance in Jan-Sept 2021</em>. Reuters. Retrieved April 26, 2022, from <a href="https://www.reuters.com/business/sustainable-business/global-sustainable-bonds-see-record-issuance-jan-sept-2021-2021-10-12/">https://www.reuters.com/business/sustainable-business/global-sustainable-bonds-see-record-issuance-jan-sept-2021-2021-10-12/</a></p> <p>S&amp;P Global. (2022). <em>S&amp;P 500 ESG Index</em>. S&amp;P Dow Jones Indices. Retrieved April 22, 2022, from <a href="https://www.spglobal.com/spdji/en/indices/esg/sp-500-esg-index/#overview">https://www.spglobal.com/spdji/en/indices/esg/sp-500-esg-index/#overview</a></p> <p>&nbsp;</p> <p style="padding-left: 440px;"><strong>∙ ∙ ∙</strong></p> <p><em>The views expressed are those of the author at the time of writing, are not necessarily those of the firm as a whole and may be subject to change. The information contained in this advertisement is for informational purposes and should not be regarded as an offer to sell or a solicitation of an offer to buy any. It does not constitute a recommendation or consider the particular investment objectives, financial conditions, or needs of specific investors. Investing involves risk, including the loss of principal. Past performance is not indicative or a guarantee of future performance. We do not provide tax, accounting, or legal advice to our clients, and all investors are advised to consult with their tax, accounting, or legal advisers regarding any potential investment. The information and any opinions contained in this advertisement have been obtained from sources that we consider reliable, but we do not represent such information and opinions are accurate or complete, and thus should not be relied upon as such. This is particularly true during periods of rapidly changing market conditions. Securities offered through Fennel Financials, LLC. Member&nbsp;</em><a href="https://www.finra.org/"><em>FINRA</em></a><em>&nbsp;</em><a href="https://www.sipc.org/"><em>SIPC</em></a><em>.</em></p>
ESG
Investing
How Does ESG Relate to Risk Management?

Some investors have a hypothesis that ESG investments generate stronger, more sustainable returns over the long term.

Shivani Hemnani
25 Aug, 2022
4 min read
<p><span style="font-weight: 400;">Are you an investor who cares not only about the performance of your portfolio, but also how your investments affect the environment, society, or humanity as a whole?</span></p> <p><span style="font-weight: 400;">If you do, you&rsquo;re not alone. There are many investors who invest based on their own morals, what they think is ethical, or to achieve a certain social goal. In fact, this type of investing is so popular that there are a handful of different terms that refer to the practice of aligning your investments with your values.</span></p> <p><span style="font-weight: 400;">You may have heard of impact investing, sustainable investing, socially-responsible investing, or ESG, but what do all these terms actually mean? And how do they differ?</span></p> <p>&nbsp;</p> <p><span style="font-weight: 400;">Let&rsquo;s define some of the commonly used terms:</span></p> <p>&nbsp;</p> <p><strong>ESG &mdash; </strong><span style="font-weight: 400;">Stands for </span><a href="https://fennel.com/fennel101/esg"><span style="font-weight: 400;">Environmental, Social, and Governance</span></a><span style="font-weight: 400;">. A framework for assessing companies beyond solely financial data, by looking at that company&rsquo;s impact on the environment, its impact on society, and how that company is organized. ESG is about better understanding a company by taking into account this information.</span></p> <p>&nbsp;</p> <p><strong>ESG investing &mdash; </strong><span style="font-weight: 400;">Involves incorporating ESG data in order to make investment decisions. Traditionally, ESG investing is </span><a href="https://fennel.com/blog/how-does-esg-relate-to-risk-management"><span style="font-weight: 400;">viewed as a form of risk management</span></a><span style="font-weight: 400;">, where ESG is used to identify companies that are managed sustainably and avoid those that could face regulatory scrutiny. However, ESG investing is often grouped together with socially responsible investing or sustainable investing &mdash; even though technically those refer to different strategies.</span></p> <p>&nbsp;</p> <p><strong>Ethical investing &mdash; </strong><span style="font-weight: 400;">Using your personal code of ethics to determine what to invest in. This differs from investor to investor. One person may think ethical investing involves divesting from companies that test on animals, while another person may not care about animal testing and instead focus on avoiding companies that benefit from child labor.</span></p> <p>&nbsp;</p> <p><strong>Impact investing &mdash;</strong><span style="font-weight: 400;"> According to the </span><a href="https://thegiin.org/impact-investing/need-to-know/#what-is-impact-investing"><span style="font-weight: 400;">Global Impact Investing Network</span></a><span style="font-weight: 400;">, impact investing refers to making investments &ldquo;with the intention to generate positive, measurable social and environmental impact alongside a financial return.&rdquo;</span></p> <p><span style="font-weight: 400;">Impact investing is a broad term, but in order to qualify as impact investing the investor should have the desire to create a positive, the ability to measure that impact, the evidence to inform that investment decision, and the goal of also generating returns in the end.</span></p> <p>&nbsp;</p> <p><strong>Socially responsible investing (SRI) &mdash;</strong><span style="font-weight: 400;"> Involves investing in something based on how that investment impacts the environment, society, or the greater good. The concept of SRI has been around for decades (at least) and is sometimes used interchangeably with ethical investing and sustainable investing.</span></p> <p>&nbsp;</p> <p><strong>Sustainable investing &mdash;</strong><span style="font-weight: 400;"> According to </span><a href="https://online.hbs.edu/blog/post/sustainable-investing"><span style="font-weight: 400;">Harvard Business School</span></a><span style="font-weight: 400;">, sustainable investing refers to &ldquo;a range of practices in which investors aim to achieve financial returns while promoting long-term environmental or social value&rdquo; &mdash; emphasis on </span><em><span style="font-weight: 400;">long-term</span></em><span style="font-weight: 400;">.</span></p> <p><span style="font-weight: 400;">Sustainable investing often is associated with investing in green energy or environmentally-friendly practices because the word &ldquo;sustainable&rdquo; is often used in that setting</span></p> <p>&nbsp;</p> <p><strong>Values-based investing &mdash;</strong><span style="font-weight: 400;"> Similar to ethical investing, values-based investing involves making investment decisions based on a person&rsquo;s own set of values. Sometimes those values reflect a person&rsquo;s morals or religion, and other times they reflect a more generalized set of beliefs. Regardless of what those beliefs are, a values-based approach depends on the individual investor.&nbsp;</span></p> <p>&nbsp;</p> <h4><strong>Which approach is best for you?</strong></h4> <p><span style="font-weight: 400;">After going through all of these terms, you may have noticed that there are a lot of similarities. Sometimes the differences between these approaches depend on the intention or end goal, other times it just comes down to semantics.</span></p> <p><span style="font-weight: 400;">Hopefully, next time you hear one of these terms get tossed around you&rsquo;ll have a better understanding of what it means. This understanding may help you make your own investing decisions going forward.</span></p> <p>&nbsp;</p> <p style="padding-left: 440px;"><strong>* * *</strong></p> <p><span style="font-weight: 400;">The views expressed are those of the author at the time of writing, are not necessarily those of the firm as a whole and may be subject to change. The information contained in this advertisement is for informational purposes and should not be regarded as an offer to sell or a solicitation of an offer to buy any. It does not constitute a recommendation or consider the particular investment objectives, financial conditions, or needs of specific investors. Investing involves risk, including the loss of principal. Past performance is not indicative or a guarantee of future performance. We do not provide tax, accounting, or legal advice to our clients, and all investors are advised to consult with their tax, accounting, or legal advisers regarding any potential investment. The information and any opinions contained in this advertisement have been obtained from sources that we consider reliable, but we do not represent such information and opinions are accurate or complete, and thus should not be relied upon as such. This is particularly true during periods of rapidly changing market conditions. Securities offered through Fennel Financials, LLC. Member </span><a href="http://finra.org"><span style="font-weight: 400;">FINRA</span></a><span style="font-weight: 400;"> </span><a href="https://www.sipc.org/"><span style="font-weight: 400;">SIPC</span></a><span style="font-weight: 400;">.</span></p>
ESG
Investing
ESG vs SRI: What Do All the Terms Mean?

There are a lot of terms used in the world of impact investing, what do they all mean?

Fennel
01 Nov, 2022
2 min read
<p><span style="font-weight: 400;">Financial advisors aim to provide their clients with less risky, higher returns in the equity markets than the client would achieve on their own&mdash; even after the professional fees. The financial planning industry places a lot of emphasis on the client-advisor relationship, which is something that&rsquo;s sometimes lacking with new technologies like robo-advising and self-directed trading apps. Many investors prefer the friendly and cordial relationships they form with licensed professionals, which could be why wealth managers handle over </span><a href="https://www.investopedia.com/articles/professionals/111115/how-big-wealth-management-and-financial-advisor-industry.asp"><span style="font-weight: 400;">$103 trillion in assets under management</span></a><span style="font-weight: 400;"> worldwide.&nbsp;</span></p> <p><span style="font-weight: 400;"> </span><span style="font-weight: 400;">But lately, clients have begun demanding other types of returns on their investments, namely, environmental and social impact. This demand is pushing financial advisors to increase exposure to Environmental, Social, and Governance (ESG) investments, while others are simply </span><a href="https://www.investmentnews.com/financial-advisers-hone-focus-esg-strategies-211318"><span style="font-weight: 400;">rebranding</span></a><span style="font-weight: 400;"> existing funds as sustainable. As a younger, more socially-responsible generation of investors entrust their money with financial advisors and expect ESG returns, it is important that they know which financial professionals are qualified to give advice.&nbsp;</span></p> <p><span style="font-weight: 400;">The Certified Financial Planner (CFP) Certification is one of the most recognized designations in the field, with </span><a href="https://prod-sitefinity-library.kappro.com/docs/default-source/kfe-documents/32630-1-kfe---cffp---survey-of-trends-report-2022---report-flipping-book---final-220324.pdf?_ga=2.177507680.478076054.1652781443-1303717597.1650695050&amp;_gac=1.254568314.1652781443.CjwKCAjwj42UBhAAEiwACIhADnJvXjlO6Y8eK2pj5aQSMOLe8CDhDvhlqoEcYp1TcQIBAR39PWNYPRoCH8MQAvD_BwE"><span style="font-weight: 400;">35% of professional advisors holding the certification</span></a><span style="font-weight: 400;"> according to The College of Financial Planning&rsquo;s recent survey. According to the survey, certifications like the CFP help financial professionals develop a deeper understanding of their work, a higher client pool, increased earning potential, and greater career satisfaction. But the CFP is just one type of certification. And as client demands transform over time &mdash; like the growing demand for ESG investing &mdash; new certifications are helping financial advisors stay with the times.</span></p> <p><span style="font-weight: 400;">The Chartered Socially Responsible Investing Counselor (CSRIC&reg;) Designation was </span><a href="https://www.ussif.org/courses_csric"><span style="font-weight: 400;">developed in partnership with the Forum for Sustainable and Responsible Investment</span></a><span style="font-weight: 400;"> and is meant to market an advisor&rsquo;s ability to identify growth trends in sustainable investment, engage in shareholder advocacy, and apply ESG strategies across a mix of asset classes. To qualify for this mark, candidates must successfully complete the specialized course and pass a test, abide by ethical standards, comply with self-disclosure requirements, and complete continuing education within the two-year authorization period.</span></p> <p><span style="font-weight: 400;">Currently, only 2% of advisors hold the CSRIC designation, signaling an extraordinary opportunity for advisors to capitalize on </span><a href="https://www.finextra.com/pressarticle/92266/wealth-advisors-failing-consumers-on-esg"><span style="font-weight: 400;">outsized consumer demand for ESG guidance</span></a><span style="font-weight: 400;">. The market is already adjusting as </span><a href="https://300hours.com/csric-chartered-sri-counselor/"><span style="font-weight: 400;">CSRIC certified graduates have grown 122% annually since 2019.</span></a><span style="font-weight: 400;"> While there are many financial professionals well-versed in ESG who do not hold the CSRIC designation, if you are a potential client looking for trained advisors with shared values, the designation could aid in your search. In fact, </span><a href="https://www.earthequityadvisors.com/team/"><span style="font-weight: 400;">some wealth management firms</span></a><span style="font-weight: 400;"> have truly leaned into the ESG movement by boasting fully-CSRIC-credentialled teams and company-level sustainability designations like the </span><a href="https://www.bcorporation.net/"><span style="font-weight: 400;">B Corp</span></a><span style="font-weight: 400;">.&nbsp;</span></p> <p><span style="font-weight: 400;">Beyond pairing impact investors with SRI advisors, these credentials help advance the movement by legitimizing and socializing ESG concepts into the industry mainstream.</span></p> <p>&nbsp;</p> <p style="padding-left: 400px;"><strong>∙ ∙ ∙</strong></p> <p><em><span style="font-weight: 400;">The views expressed are those of the author at the time of writing, are not necessarily those of the firm as a whole and may be subject to change. The information contained in this advertisement is for informational purposes and should not be regarded as an offer to sell or a solicitation of an offer to buy any. It does not constitute a recommendation or consider the particular investment objectives, financial conditions, or needs of specific investors. Investing involves risk, including the loss of principal. Past performance is not indicative or a guarantee of future performance. We do not provide tax, accounting, or legal advice to our clients, and all investors are advised to consult with their tax, accounting, or legal advisers regarding any potential investment. The information and any opinions contained in this advertisement have been obtained from sources that we consider reliable, but we do not represent such information and opinions are accurate or complete, and thus should not be relied upon as such. This is particularly true during periods of rapidly changing market conditions. Securities offered through Fennel Financials, LLC. Member </span><a href="http://finra.org"><span style="font-weight: 400;">FINRA</span></a><span style="font-weight: 400;"> </span><a href="https://www.sipc.org/"><span style="font-weight: 400;">SIPC</span></a><span style="font-weight: 400;">.</span></em></p>
Investing
Socially Responsible Investing Gets Legitimized With CSRIC Designation for Financial Planners

More people are paying attention to socially responsible investing.

Sultan White
17 Nov, 2022
2 min read

Take back the power of your investment

Subscribe to our newsletter for exclusive updates
Please enter a valid email.
Thank you for subscribing to our newsletter!