BlackRock (BLK) is scrapping Environmental Social Governance (ESG) investing and instead pivoting to focus solely on the environmental component, rebranding it as "transition investing." Tariq Fancy, Former BlackRock Chief Investment Officer of Sustainable Investing and Founder of The Rumie Initiative, joins Yahoo Finance Live to discuss this strategic shift. Fancy says the criticism of ESG "expedited a process that was probably going to happen anyway." He notes that ESG investing "lumped together a whole bunch of ideas" that were not inherently similar. Moving just the environmental aspect into "transition" investing is "a natural way" for markets to "move forward," in his view. He explains that BlackRock "has all different kinds of investment groups" aiming to create "additionality" or "real world impact." Fancy believes "the backlash" will allow BlackRock to hone and refine its sustainable investing strategies accordingly. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith
This article takes a look at the 20 best river towns for retirement in the US. If you wish to skip our detailed analysis on saving struggles and riverside havens, you may go to 5 Best River Towns for Retirement in the US. From Savings Struggles to Riverside Havens According to data from New York […]
Bitcoin was perched just below a two-year peak on Tuesday, having jumped to a high above $68,800 and nearing the all-time high as money keeps rushing into the world's most traded cryptocurrency. Bitcoin has gained 50% this year and most of the rise has come in the last few weeks when inflows into U.S.-listed bitcoin funds have surged. Spot bitcoin exchange-traded funds were approved in the United States earlier this year.