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"Paul Tice delivers a body-blow to the predations of the ESG-industrial-complex."-Mark P. Mills, Senior Fellow, Manhattan InstituteOver the past few years, so-called "sustainable investing"-a new practice based on the theory that environmental, social, and governance (or "ESG") factors should drive corporate policy and investment decisions-has swept across Wall Street. Spurred on by the United Nations, national governments, and financial regulators, and cheered on by academics, environmental activists, and the media, the ESG orthodoxy has received little public resistance as it has integrated…mehr

Produktbeschreibung
"Paul Tice delivers a body-blow to the predations of the ESG-industrial-complex."-Mark P. Mills, Senior Fellow, Manhattan InstituteOver the past few years, so-called "sustainable investing"-a new practice based on the theory that environmental, social, and governance (or "ESG") factors should drive corporate policy and investment decisions-has swept across Wall Street. Spurred on by the United Nations, national governments, and financial regulators, and cheered on by academics, environmental activists, and the media, the ESG orthodoxy has received little public resistance as it has integrated itself into almost every corner of the financial sector. By 2030, the iron curtain of sustainability will have fully cast its shadow across Wall Street. The Race to Zero provides a detailed rebuttal to the case for sustainable investing from the perspective of a long-time Wall Street analyst, investor, and latter-day finance professor. Sustainable investing does not aim to generate excess returns for investors or to further ethical goals such as improving society or saving the planet; rather, it seeks to seize control of the world's financial system in order to ensure that the allocation of capital and investments across markets is politically favorable to establishment interests. By limiting financial market access, ESG is designed to create a compliant corporate sector to serve as both Greek chorus and funding source for the environmental and social causes championed by government and the elite class. Climate change is its driving force and priority goal, and its main targets are fossil fuel companies operating in the industrialized Western world. This book is designed to expose these truths in plain-spoken language-free of financial jargon-to reach the widest possible audience, including the silent majority on Wall Street that is now afraid to speak up about ESG.
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Autorenporträt
PAUL H. TICE has spent the past 40 years working on Wall Street at some of the industry’s most iconic firms, including J.P. Morgan, Lehman Brothers and BlackRock. For most of his career, he has specialized in the energy sector—both as a top-ranked sell-side research analyst and a top-tier buy-side portfolio manager—which also made him an expert in climate policy and environmental regulation and its financial off-shoot, the ESG and sustainable investment movement. In recent years, he has taught as an adjunct professor of finance at New York University’s Stern School of Business. His opinion pieces have appeared in The Wall Street Journal, the Washington Examiner, the New York Post and The Hill. Mr. Tice holds a BA in English from Columbia University and an MBA in Finance from NYU Stern. Born and raised in Bay Ridge, Brooklyn, he now lives with his family in New Jersey.