(Outlet: The People Space) A recent paper argues there is no statistically strong relationship between diversity, equity and inclusion and better financial performance. Does this lessen the business case for investing in DEI or should the case instead rest on a cultural and moral imperative rather than profit?…Read More
(Outlet: Mother Jones) In recent years, top asset management firms from BlackRock to Vanguard have expanded what’s known as Environmental, Social, and Governance (ESG) investing—a way to screen investments not just for profit potential, but also for a company’s record on everything from climate change to workplace diversity. Strive’s goal, however, is the exact opposite: to undo what the fund’s leaders see as a growing culture of “wokeness” that has infected boardrooms across America. …Read More
(Outlet: S&P Global) Barclays PLC can no longer underwrite municipal bonds in Texas after the state’s attorney general determined the bank may be a “fossil fuel boycotter” in violation of state law.…Read More
(Outlet: Forbes Online) After the first calendar year of outflows from US sustainable funds in 2023, the time has come for investors to consider rational sustainability as a middle ground between abandoning and continuing with ESG investing.…Read More
(Outlet: Newsweek) The ongoing insurance crisis in Florida, fueled by the exodus of major insurers and the increased risk of extreme weather events, could trigger a downturn in the state’s real estate market, experts told Newsweek.…Read More
(Outlet: Marketplace) “The fact we no longer use the term ESG on analyst earnings calls, that fund prospectuses are dropping the term ESG, doesn’t mean they’re changing what they’re doing,” said Witold Henisz, vice dean of the ESG Initiative at the Wharton School. “But they’re self-censoring because they don’t want to be called out in a congressional hearing.” He said the right way to judge ESG investing is how it performs in the long term — even if it’s not called ESG by then.…Read More
(Outlet: Daily Pennsylvanian) Penn released admissions results for its Early Decision program on Dec. 14, admitting roughly half of the Class of 2028. The Daily Pennsylvanian sat down with five members of the Class of 2028 to speak with them about their backgrounds, aspirations, and what ultimately drew them to choose Penn.…Read More
(Outlet: Financial Times) The winners of the Responsible Business Education Awards have helped to address vital and sometimes overlooked societal and environmental issues in a practical way. Wharton Professor Daniel Garrett wins “best academic research with societal impact: publications and outreach that have influenced policy or practice” for his paper “Gas, Guns, and Governments” (Federal Reserve Bank of Chicago). …Read More
(Outlet: Financial Times) By combining hands-on experience with tools such as VR headsets and AI, schools are improving their teaching on sustainability and the climate crisis. Wharton professors Arthur van Benthem and Mirko Heinle’s course “Climate and Financial Markets” has been Highly Commended by the Financial Times Responsible Business Education Awards for Best Innovative Recent Teaching Materials on Sustainability or Climate Change Adaptation with a Special Focus on Finance.…Read More
Aarthi Sowrirajan did everything right. She earned her bachelor’s degree in economics from the University of Chicago in 2005, interned at a leading financial services provider, and got a full-time job in the structured products group at Deutsche Bank in New York City. She was living the dream, but something kept nagging at her deep inside. Read on to learn how her Wharton MBA not only helped open doors, it opened her eyes to the possibility of “doing well by doing good,” the guiding principle of companies operating in the social impact space.…Read More
