Insights & News

George Michael Gerstein is Quoted in Planadviser and PLANSPONSOR Regarding the CalPERS Debate on the Politicization of ESG Investments 

December 21, 2017
Press Clippings

Stradley Ronon Counsel George Michael Gerstein was quoted in Planadviser's  article "ESG Investing in CalPERS Debate" and in PLANSPONSOR'S article, "CalPERS' Ongoing Push into ESG Drives a Healthy Debate," both of which discuss CalPERS' motivators in ESG investing as more politically charged than financially driven. The ACCF alleges CalPERS has converted a pension surplus to a massive deficit because their motivators are more aligned with symbolism rather than their fiduciary duty. 

“There is very clear reporting from many highly respected sources that shows challenges like climate change, resource scarcity, political instability and the like, will be very impactful to the future performance of long-term investments that are being made and debated today. ESG investing can actually be a primary part of the analysis because it can affect the actual performance, but this analysis must be objective and it must put participant’s financial benefit first.”

To read the full articles, click here and here.  

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