ESG has become a favored target of Trump and his fellow Republicans, who describe it as “woke capitalism” or “radical left garbage.”
(Bloomberg) — Investment funds focused on environmental, social and governance factors will be able to withstand a victory by Donald Trump in the US Presidential election this November, according to Ian Simm, the founder and CEO of Impax Asset management.
ESG has become a favored target of Trump and his fellow Republicans, who describe it as “woke capitalism” or “radical left garbage.” Trump has also attacked wind power and electric cars. Meanwhile, renewable energy has become cheaper than fossil fuels in many cases, and efforts to onshore solar and electric vehicle supply chains have benefited many Republican districts and states.
“If we end up with a Republican-dominated administration in the United States from January next year then it’s quite possible that there will be more pressure on asset owners in the United States to reduce their ethical interventions or requirements from investment,” said Simm. “But our view is that it’s hard to see the momentum stopping or even slowing down in the economic transformation in favor of clean industries.”
Trump currently leads President Joe Biden in polls in several swing states.
Headquartered in London, Impax was founded in 1998 and established its Japan office in February 2023. The investment company had assets under management of $49.8 billion as of the end of 2023.
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©2024 Bloomberg L.P.
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