Jamie Dimon told clients this week that “some investors don’t give a s–t” about “ESG,” the woke investing approach that US companies increasingly have embraced under political pressure, sources told The Post.
The hard-charging JPMorgan CEO emphasized the importance of conventional energy sources as the nation invests in green energy, telling attendees at a company “fireside chat” that “pumping more oil and gas and using energy security” is critical for the US to maintain its financial stability and independence, according to a source briefed on the comments.
Dimon also blasted companies for “ceding governance to do-gooder kids on a committee” whose members are selected for their bona fides in so-called ESG, or environmental, social and governance.
JPMorgan itself is an ESG-conscious bank. The company’s own website says “ESG matters are an important consideration in how we do business.” The bank also issues an annual report that rates its own performance on ESG.
Jamie Dimon has emphasized the important of energy independence.Bloomberg via Getty Images
But elsewhere, ESG has become a major talking point for some financial firms. BlackRock, which manages $8.5 trillion in assets, has put an aggressive emphasis on ESG investments under its CEO Larry Fink.
In response, multiple GOP treasurers have announced they are planning to withdraw — or have already withdrawn — state funds from Fink’s company.
Dimon’s comments were first reported by the financial blog Zero Hedge.
Source link: https://nypost.com/2022/10/14/jamie-dimon-some-investors-dont-give-a-s-t-about-esg/