SEC Weighs Crackdown on Phony Environmental and Social-Justice Funds - Slashdot

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• So.. any S&P 500 ESG funds where tesla was kicked out and exxon stays in.

  The S&P ESG is an index, not a fund. It works just like the S&P 500, or the DJIA. It just reports on the state of a few stocks.

  And the ESG works just like the Greenpeace index - it's all about the paper. Remember Apple scored at the very bottom because they published nothing about their environmental efforts. Then the next year they practically aced it by basically spewing press release after press release about Apple's green initiatives. Apple didn't change anything, they just published their efforts instead of keeping it secret.

  Plus, Tesla has serious management problems, being rotten from the very top. It's not just "E", but the "S" and "G" part count as well, and treating employees fairly So what Tesla has in "E", they lose out in "S" and "G".Exxon has bad "E", but better "S" and "G".

  And in the end, the SEC can't really find anything. Because if you wanted a fund that follows the S&P ESG, you basically get an index fund that follows the S&P ESG. The fund isn't making any claims about what it invests it - it just invests in securities at the same ratio that the S&P ESG index uses to calculate its value.

  So no, not likely to be an issue.

  The SEC is going after funds that say they are "Ethical" or "Environmental" oriented which may be a load of hogwash. These are less index products but regular managed funds that invest in certain stocks. The SEC wants to make sure those funds are doing what they say. An index fund makes no claims other than basing its holdings on what is used by an index.

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    > The S&P ESG is an index, not a fund. It works just like the S&P 500, or the DJIA. It just reports on the state of a few stocks.

    It's being used to make decisions that move tons of money.

    > And the ESG works just like the Greenpeace index - it's all about the paper. Remember Apple scored at the very bottom because they published nothing about their environmental efforts. Then the next year they practically aced it by basically spewing press release after press release about Apple's green initia

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    The fact that Exxon is in the S&P ESG fund is all I need to know about their their "ethics".

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  Just FYI, BLM the movement is distinctly different than Black Lives Matter Global Network Foundation (BLMGN), which is the org that everyone points at that hitched up to the grassroots BLM movement to start sucking people's wallets dry.

  In fact there are THREE non-profits that have hitched up to the BLM movement. Black Lives Matter Global Network Foundation just happens to be the one in the news a lot and the one with the most egregious violations of not-for-profit status. There is Black Lives Matter PAC L

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      absolutely zero proof that Democrats are stuffing ballots.

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  So the first step would be to conclusively prove there is no heaven?

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  Calm down, Francis.

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  Animal Farm wasn't wrong.

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  Then you're wrong.

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    Thank you for providing a rebuttal with examples or philosophies that counter my comment./s

    Maybe I'm using the wrong definition of altruistic or maybe there's a long history of people doing things that are truly selfless and
    disinterested at the scale of a society (SOCIAL justice etc.).

    • Two examples

      Here's two examples.

      During WWII when Japanese people were being put into camps, John Fletcher [washingtonpost.com] quit his job and started farming some of the neighboring properties that were Japanese owned. He paid the taxes and mortgages, worked the farms at a profit, kept half of the profits for himself, and banked the rest. When the families were eventually let out of the camps, he returned the properties and banked profits to them.

      In the aftermath of the Haiti earthquake, the US sent an aircraft carrier. We (the US) desal