Investing

What Vanguard’s withdrawal from the NZAMI really means

(Mark Hulbert, an author and longtime investment columnist, is the founder of the Hulbert Financial Digest; his Hulbert Ratings audits investment newsletter returns.)

CHAPEL HILL, N.C. (Callaway Climate Insights) — It’s telling that none of the more than half-dozen industry experts and researchers I reached out to for this column was willing to speak on the record—if they even returned my calls.

I told them that I was writing about Vanguard’s decision earlier this month to withdraw from the Net Zero Asset Managers Initiative (NZAMI). That decision has led to no end of hand wringing from many in the climate finance world who worry it means that Vanguard is giving up on doing anything to mitigate climate change. At the same time, many on the right are celebrating because they think Vanguard’s decision means that the firm is forsaking “woke” finance.

Neither of these polarized responses is the whole truth. It’s a testament to how stylized and unhelpful our society’s discussions of climate change have become that no one is willing to say this on the record…

Subscribe to Callaway Climate Insights to keep reading this post and get 7 days of free access to the full post archives.

Sponsored: Find a Qualified Financial Advisor

Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.