Boot Chinese Stocks From ESG Funds, Former State Department Official Says
Nysun 10.20.2022 1 min read
A former undersecretary of state for economic affairs and CEO of DocuSign, Keith Krach, is on a mission to divest Chinese stocks from funds restricted to companies that meet environmental, social, and governance goals.
In recent years, such ESG funds have become flooded with capital as investment funds, endowments, and others have been pressured to focus on the societal impact of their investments in addition to getting financial returns for their investors.
According to Mr. Krach, when they started 15 years ago, ESG funds represented about $17 billion in funds; today they represent about $40 trillion.