towards esg investment. that is not my view but some people feel esg as gotten much attention. >> there was a young man standing over here who is very excited to have you sign his book and meet you. what is your advice to the teenager? >> do well in school, read as you can, learn how to be a good speaker. you cannot be too much, learn how to write well, get a good education, make sure you listen to your parents, but generally if you are interested in an investor -- in being an investor a good education helps. investors are people who are well read, they have added a bit of -- they have an ability to pick up information. if you dropped out of high school you are not likely to be a great investor. investing requires a good education, a field for numbers and other skills. >> when you say a feel for numbers, do you need math skills? >> good arithmetic skills, you need to have a facility for numbers and not be afraid of numbers as some people are. >> if i like a certain pair of shoes and i think that company make

towards esg investment. that is not my view but some people feel esg as gotten much attention. >> there was a young man standing over here who is very excited to have you sign his book and meet you. what is your advice to the teenager? >> do well in school, read as you can, learn how to be a good speaker. you cannot be too much, learn how to write well, get a good

it's something but it's not esg.bout 38% on the year now. and that's because there's been a lot of people herded into amazon on false pretenses of esg and i think that's sort of part and marcel with the risk we're seeing in the market as a result of esg capital constraints which as you say, maria, push forward by blackrock for something other than fiduciary roles of returning investment dollars, returns on investment dollars. maria: well, they're taking the cue from this administration who has a whole government approach toward the climate change agenda and they're pretty much bullying money managers if you invest in fossil fuels and larry fink is picking up where the biden administration leaves off and doing just that. >> yeah. that's right. and on the other side of that, maria, exactly -- look at exxon mobil. massive constraints on capital, disincentives, regulations, nobody can own exxon because we're villinizing it yet the stock is up 80% year-to-date. that's the contrast, exxon mobil versus amazon. one's a villa

they're moving past esg. we need to worry about esg. we need to fix the problem with esg but they're moving past that. esg as been a big hit for them. successful in changing the way governments and corporations act from state governments, local governments, all sorts. now they're looking at how they press further down. when states try to become active in economic development. they're using those wealthy companies to come to the states and say we need you for green infrastructure and guarantees that the staff that you'll send us is racially and minority appropriate. they're now getting to that level when they come to states. so we're effectively asking the middle class who pays the tax bills to fund the richest people in the world in yet a different way. congressman is 100% right. it's a scam. it's about defeating the principles that this country was founding on. we can't accept that. we have to stop funding those that despise us and our way of life. >> laura: congressman and curtis, thank you both. this has to be priority number 1, 2 an

we are going to have a light discussion on esg coming up at 1:00 p.m. the head of research, and we are going to discuss how the esg premise. join us then we'll be right back. this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay. the pursuit is on. the pursuit of outperformance at pgim. with deep expertise to outthink across multiple asset classes, actively managing investments in the world's public and private markets. outscale, with the resources to serve 1,500 clients in 52 countries. and outlast, with long-term conviction that looks beyond today's volatility. join the pursuit of outperformance at pgim. the investment management business of prudential. >>> welcome back tech is pushing higher today its posting its third

- >> i apologize esg is the whole bottle.t of it the social governance is extremely important. >> now, the ft article, you know, which publicized a lot of the moves, you picked federated hermes. >> i looked at their rating, they supported 57% of climate shareholder proposals. blackrock only supported 41% so, i just wonder, you know, this does feel as though it's a political decision, not necessarily based on the differential between these two firms given one is actually voting in favorite of climate proposals more ovften than the other. >> when we went with fed rated, it was not federated hermes. federated understand they work for me and i work for the people of south carolina. they are consistent. they're not consistent, they let us know. >> i mean, blackrock, $8.5 trillion they are trying to get the best return for their investors that's what they're in business to do. i wonder how do you, as a state treasurer, approach the climate transition to the extent you believe one needs to take place? electric vehicles, we know, are

>> over esg. let me unpack this a little bit.ernment edicts, whether they are carried too far. he gave a fireside chat, essentially the u.s. is disarming itself on its economic policy by allowing esg to dictate a rollback of drilling for oil. he says, he was saying this is a real problem for the world. problem for the economy. so i went back and said, asked some people around him who know him, who have to deal with him on a daily basis, what is real belief on esg? jpmorgan was a big believer in esg. here is how they put it. the context is interesting. they remind me jamie always has been a democrat. he considers himself a liberal but here is where it gets interesting. he is growing increasingly concerned that radical progressives are dictating corporate policies essentially through the es g-man dates. that it is hurting the nation's economic policy. that causing them to pull back. and what he is really, what is really interesting, liz, is this, as you know, a lot of esg stuff votes on corporate governance issues. they're mimicked

give viewers a sense of the approach, how esg is a part or not as much as we make out >> yes esg a partnt it can drive returns. esg without returns is simply not stainustainable we have ideas around capital allocation and also environmental, social or governance ideas that solve a business problem and drive a return. so in some of the companies you named we have unique ideas again, that link esg to returns as you opened, seeing a lot of pushback into the blanket statement of esg environmental social governance considerations have always been included in valuations of a business' risks and our belief is that it can be drivers of the business' returns. >> right was the conversation like? you go into one of these companies identify something perhaps they can do better in terms of esg, pushing levers, pulling levers, push buttons, i guess, that would actually address perhaps a societal concern, at the same time actually do this >> a lot of these ideas coming to the table with are not necessarily addressing societal concern. we ask companies to look inward and trying to address business' con

overall we expect strong outlooks for esg investment in the region.u look at the growth of esg integration in asia from 2018, they were around a 38% of asset owners, growing up to 70% in asia. that's remarkable growth. as asset owners and managers integrate yesterday, which is looking at the financial neutrality of environmental, social and governance of companies, we expect further commitments in the area. as asset owners and managers evaluate the benefits of doing so, they will assess how companies are reaching their climate and net zero targets. haidi: what about china? as one of the biggest economies, there had been some hope that they would be really driving regional leadership when it comes to the energy transition. is it a part of a broader issue where we see the economic slowdown affecting a number of economies, now preventing the transition from happening in a timely manner? >> we don't expect any strong policies coming out of the current party conference. we are looking to march 2023 to get further guidance from china on how they will reach

more on esg which to everybody is on everybody's mind. it goes after american companies but it completely ignores china. so yes that's interesting to make that point. yes. so so elon musk called it a complete sham because exxon's exxon made the top ten list of their favorites and he didn't. tesla didn't. yes and that's the thing. it can be manipulated any way that you want. it's arbitrary. there was a video i was trying to show you it is done by a group called culture war room which just spelled it out. it's a texas oilman goes and sits down in a bank and he to this young employee and the employee sits down and he's like, okay, my pronouns are and the texas oilman is looking at him and then starts saying, what do you do? i'm a driller. i want to hire this. he's like, oh, well, that's really bad the environment, but maybe we can help you. do you have any women? no, they're all men. have you ever as a woman? and he's like, no. and they go through all this criteria that you'd expect. and at the end of it, they're like, sorry, we can't give y

, and a lot of them think esg has helped their performance but they are considering stopping esg or rollingms why is that? >> the survey reflected that ceos are considering pausing during the recession certain esg initiatives, and it's important that ceos and business leaders recognize the diversity and inclusion, and we expect those commitments to be kept and we believe the forces behind esg, which are employees that want to work for enterprises that are well versed in renewable energy, and it will cause a climate where we are investing in esgs, and ceos believe esgs are improving their performance. >> are they going to pause it because they are looking ways to cut costs and this is one of the first things to go >> it's about cost reduction and in the long term the recognition that esg is improving their financial performance, certainly with the ability to bring more customers in, that believe in sustainability and also employees wanting to work for organizations that are very sustainable in nature and that are -- that believe in their diversity and inclusion agendas. >> what surprised you

charles: all right, so you finally heard about esg, right? on main street and by elected officials. the question is it too late? this is a powerful force. in fact i want to point out inflows into this fund just back in 2008 were five billion dollars. right now 2.5 trillion with a t. it's a locomotive, folks. joining me south dakota senator mike rounds. another, you authored legislation to push back on esg, and trends to gut business profits and business culture. is it too little too late? this is multitrillion dollar juggernaut on both sides of the atlantic? >> it's a juggernaut but these types of new proposals should come through elected officials. right now the sec is trying to do this just using a bureaucratic approach to rulemaking. in fact the last time around here their last rulemaking process, by the way there is over two dozen of these through the sec in the last year but the last one was 510 pages in lent. the goal was not to -- whether or not a chance for investor make a profit. they're talking strictly about the environment or gove

do you feel pressure to do esg environmental governance? i always said it was a scam. what wall street was doing was adding 40 basis points to their funds to charge for the esg. the irony is, they did really well the last decade because they took fossil fuels out because energy did horrible. now they're doing really poorly because they don't have fossil fuels in their portfolio. they're saying wait a second, maybe we can have a little fossil fuel exposure in our portfolio which is complete hypocrisy. maria: this is a whole of government approach, more of the pushing of the administration's climate change agenda. >> i think there's no question broabout it. one of the things i've been look at, i think big financial institutions are trying to draw in top talent. the war on talent is real. young people used to want to go into investment banking and financial institutions. now a lot of young people say i want to have an impact, change the world. the financial institutions are saying you can change the world by coming here because what better way

what do you make of this >> i think critics of esg are as wrong as a frog in a fire.ble. it should be social, governance, environmental. at just capital we poll the american public every year and ask them what constitutes just corporate behavior and with that we rank a thousand largest companies according to what the american public tells us many of the things we ask the public on are esg components some of the same things -- some of the critical factors we use in our just ranking. and if you just look, again, esg has been so politicized, it's been to serve a lot of people's purposes out there as opposed to looking at the facts if we take our just 1,000. >> right. >> we take the top 100 companies and the bottom 100 companies since we started calculating the index in 2018, the top 100 companies have returned about 58%. the bottom 100 companies returned about 14% that's a 44% spread on alpha it is derived from looking at many esg components. >> right what do you say to the pension funds in some of the red states that are pulling their money out of the blackrocks of the

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. >> final trades are next esg is responsible investing.le for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. i remember the day you looked at me and asked, “what now, dad?” so i said, find a job, any job. work hard. that's just how it is. but of course, you didn't listen. you showed me there's another way. i'm proud of you. ♪ ♪ >>> we've got overtime on this friday, 4:00 p.m. eastern. eventda, we've got dan ives, too. we're going to talk all things musk you have tesla earnings next week see what he thinks happens with twitter, the financing we have to sell anymore shares of tesla we'll ask ives what he thinks. get a little read on technology in general, too. let's do final trades. >> l3 harris we ha

esg matters.rock not like they're force feeding people let me give you two pieces of sanity about this. it makes me angry. the demand is real so many people want to invest this way you look at the biggest winners, they tend to be companies passionate about moving away from fossil fuels. some of the best performers make it their business to help the environment so if you think esg helps poor people or historical minorities, you haven't looked at the stocks of what is winning and good balance sheets. second, what makes this move a total travesty, the asset managers i know, larry fink is the far most level headed. he doesn't want us to go green and doesn't favor higher gasoline prices. he doesn't want us to be like germany that decided to mothball the plants and replace with russian natural gas. he's a driver of the concept over time. if you think that's anti fossil fuel, every major ce o feels th same way they're spending to go green if you want cleaner skies and less expensive skies, you have the w

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you've got the two leaders that are in the quarter that are the most esg in the s&p.hy not become more esg in order to be able to track that money that's obviously going to end phase and going to constellation? >> jim, you mentioned earlier that you were doing some work over the weekend and, in fact, you thought meta and alphabet were both cheap. i don't want to put words in your mouth >> it started with -- well, that happens to have excellent ir investor relations it started with the amazement of a positive piece in "the new york times." >> i read the entire piece about the lady who spent all that time in horizon, i guess, that's the name -- it didn't, in any way, make me want to go into the metaverse. >> it didn't >> no. >> it made me want to very much go into the metaverse. >> really? to me, it didn't seem aga interesting at all >> she seemed to go to comedy clubs a lot in the metaverse >> there's a lot to go on in the metaverse. i like the metaverse but -- >> it's early days and clearly there's going to be an enormous amount five or ten years from now. lot of cont

not just diversity issues but issues around esg broadly. i have absolutely part and parcel on a percentage basis a considerable part of how we determine compensation. certainly for the ceo as well as top management and business leaders. it will continue to be that. that said and notwithstanding what i just said we don't want to be an a world where we're fighting discrimination with discrimination. high-performing white guys are absolutely welcome in companies and they should be encouraged to compete and succeed as much as any of the group but there are clearly gaps and we have been lagging behind in terms of remedying the shortfall in diversity. i am pleased to say certainly the companies i'm involved with but more generally there is a real sense this is not just about employees and boards et cetera. it's also about subcontractors, people who are advising us in terms of the external auditors, people who are managing the pension fundd money. there's much more that corporations can do and, of course, many of these companies have large events

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you do have people defending esg practices. we have exposed it on "the ingraham angle".thers including multibillionaire is on cnbc. szuma anyone who says climate shouldn't be a factor in how you evaluate the future of a company , that's not capitalism. companies that have a missions are going to be subject to border adjustment tariffs or taxes if you are dealing with severe weather events. that's got to be factored in. >> your response to this argument from gates? >> all they are doing is shifting jobs to china. that's really what is happening. we have all the energy we will need under our feet in the united states and they will shift all of these jobs to china. china will not stop building coal-fired plants. they are building them at a record pace. all we are doing is on a long-term basis of what we are doing on a short-term basis which is declaring war on american energy. inflation is not some act of god. is not a tornado or hurricane. there is a formula. if you spend trillions and trillions of dollars and you declare war on american energy the prices go up on everythi

no one gives anything about esg investment. charles: to neil: he said that are hearing.he squad members as idiotic. neil: that is a little more frank. charles: that is the metric. but charlie meant to say -- thank you, my friend. meanwhile, black rock and whether they are too politically correct in their estimate strategy. a number of things across the country surrounding them around the country, saying we don't need you and that extends to treasurers offices. jackie deangelis on the latest on that. >> reporter: picking up on that esg thing in missouri, the latest state to pull funds from black rock because of its investments, $500 million, this in addition to the roughly millions, to be withdrawn from states like louisiana, south carolina, utah, arkansas. esg was known as csr, category of investment centered around the environment and social government. black rock is in this space, scott fitzgerald explains why his board made the decision to withdraw funds about fiduciary duty but people made on understand what that means, fitzgerald explains. >> in german real estate i

. >> esg trying to figure out who's es zbg and who's not.s one of the great non-parlor games. >> obviously, the music's playing, we got to go. >> i can't hear it >> there's a real esg backlash now, in part because of something we discussed a lot, which was the fact that it was used as a marketing tool by so many different asset managers that it -- esg itself is still viewed very positively, but those who were pursuing an esg strategy >> i'm going to tell you one money manager who was not pursuing it, but the customers wanted it. larry fink at blackrock. customer tends to be right a lot of other guys are like, the customer is often right. no always right >> always. >> we're going to get cramer's "mad dash. we'll count down to the opening bell keep your eyes on yields here. ten-year backing off 4.11, but you got the front end still above 4.5. above 4.5. back in a minute and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearab optimization tech. uh, how long are you... i'm done. i'm

a report found investors held more than 17 trillion in assets chosen based on esg principles in 2020lier. our digital team with foxbusiness.com reached out to the banks part of this investigation, trace. they have not hired back. >> trace: grady trimble live for us. thank you. let's bring in missouri republican attorney general eric schmidt running for senate. thanks for coming on. the big theme here is that the united nations and its climate agenda does not set the standards for american companies. fair? >> that's right. i think these ideas might sound good for cocktail parties, but it's a disaster for american jobs and industry. it would only hurt american families. you've seen what has happened with the biden administration by spending trillions and trillions and declaring war on domestic energy production. it's made everything go up in price. this net zero banking alliance is the long-term plan by 2050 to have a portfolio that is carbon neutral. what that means is they're going to syphon off investment to energy exploration, auto manufacturing, agricultural, which is missouri's n

well, woke financial institutions are using esg to defund, to debank the oil and gas industry. they're using this, these esg scores to do an in and around our second amendment, basically creating a gun registry. we should all with worried when senator elizabeth warren is taking a victory lap and praising an action, and then she basically cites these credit card companies can work hand in hand with the government to track our gun purchases. that's why i led this letter with 12 senators as well as 23 state attorney generals including my state attorney general, derek schmidt, very proud for his efforts on this, warning them that if they do in this, heir going to be sued, and we're going to do everything we can to fight back. maria: unbelievable. you've only got less than 50 days until the midterm elections. how are you feeling about this race right now with all of the moves that you've been making for the american people? >> yeah, certainly, maria. we're seeing the polls move in the right direction. i'm sure you saw the polls in nevada yesterday. two polls said the republican cand

esg into your investments? at pgim, the pursuit is on for outperformance.st practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. homegrown tomatoes...nice. i want to feel in control of my health, so i do what i can. what about screening for colon cancer? when caught in early stages it's more treatable. i'm cologuard. i'm noninvasive and i detect altered dna in your stool to find 92% of colon cancers, even in early stages. early stages? yep, it's for people 45 plus at average risk for colon cancer, not high risk. false positive and negative results may occur. ask your provider if cologuard is right for you. consider it done. (vo) with their verizon private 5g network, associated british ports can now precisely orchestrate nearly ask your provider if cologuard is right for you. 600,000 vehicles passing through their uk port every year. don't just connect your business. (dock worker) right

take me through this esg invest, grady. can investigation. >> reporter: yeah.united nations net zero banking alliance which is essentially a commitment from the banks to invest in and lend to businesses that are climate-friendly in order to ore deuce climate change. here's a look at some of the banks that are involved now in this investigation. they were served with civil investigative demands, essentially a subpoena prosecute if states for more information -- from the states for more information. some of the biggest financial institutions in the country, even the world for that mart. the 19 red statements that have launched this investigation include arizona, tennessee, texas and others that aren't on this map for for confidentiality reasons. they want info on the banks' environmentalling social and governance, or everything sg, policies. missouri attorney general eric schmidt, he's leading the charge because he says these policies are killing american companies and jobs. >> this stinks to high heaven and ought to scare the bejesus out of everybody. it means f

another problem though, another reason we've got this oil crisis is the impact of esg.s starving projects that need big-time financing. of course that also means big-time american jobs. finally some of these states are pushing back. louisiana, they will remove 800 million from blackrock. you think more states should act, there should be a greater awareness of the negative impacts of esg? >> oh, definitely. listen, esg is not talked about enough, charles and this is a way to use corporations to employ meant public policy like global warming for example. louisiana is all in with fossil fuels. they are the third biggest producer of natural gas. they have 14 refineries. in new orleans i think their port is the third largest to export coal. this is a no-brainer to me for louisiana. thank goodness they're doing something and pushing back. charles: hey, i got less than a minute. yesterday i had professor scott galloway. he is a big time progressive. he written a book called "the drift," america's decline. both sides agree on some things are in trouble, that the company is in t

black rock is pushing esg and we will get that here.ck by hurting black rock's bottom lines. details coming up. after my car accident, wondnder whahatmy c cas. so i called the barnes firm. i'm rich barnes. youour cidedentase e woh than insurance offered? call the barnes firm now to find out. yoyou ght t beurprpris fanduel and draftkings, two out of state corporations call the barnes firm now to find out. making big promises. what's the real math behind prop 27, their ballot measure for online sports betting? 90% of profits go to the out of state corporations permanently. only eight and a half cents is left for the homeless. and in virginia, arizona, and other states, fanduel and draftkings use loopholes to pay far less than was promised. sound familiar? it should. vote no on prop 27. when that car hit my motorcycle, vote no on prop 27. insurance wasn't fair. so i called the barnes firm, it was the best call i could've made. call the barnes firm now, and find out what your case could be worth. ♪ call one eight hundred, eight million >> ♪

as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. it seems like things are falling apart lately. the economy. the market... everything. but upwork lets you strategically hire talent to weather all ups and downs your business might go through. look at all that talent. ♪♪ >>> all right, welcome back. we're watching shares of salesforce today moving higher on news activist investor jeff smith of starboard value has taken a significant stake in that company shares leading the dow today all right, jimmy, so they say the long-term targets are less ambitious than peers it has a subpar mix of growth and profitability, and that's not in any way to suggest this guy was throwing darts at salesforce, because he wasn't as you i hope heard in the interview with david faber great company and ingrained in the fabric of other great company. when he was talking about how great of an opportunity he thought this was -- he'd been looking at it a long time. he sa

esg is responsible investing. who's responsible for building esg into your investments?pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. >>> general electric just reported 35 cents a share that was compared to a consensus estimate of 46 cents revenue came above wall street estimate ge also said it is planning spinoffs to three companies is on track ge health care ready to make the debut the first week of january. the bad news is ge, if you are looking for the tarot cards of earnings in the economy, that looks bad. the good news is ge is not a bellwether for the economy that is ugly >> good news if you are a ge shareholder. >> they are not used to bad news let me see where ge's market cap. 68 it was an 8 for 1? >> 8 for 1 >> 1 for 8 it was over 100. suddenly it is 100 agai

call the esg environmental social governments and movements what initial take onn that? >> i do not believe in this. when capitalism social. even capitalism we do not mean all of these things. we even on the economic ranking free and not free. the top is switzerland, and then at the bottom like north korea is whaler. then there is another index api. an index from el university. the correlation you see the countries with the best environmental politics are the freest countries. so i thinking don't need things like this. you cite two books in your book the power of capitalism. talk about thomas n-uppercase-letter the 21st century and jason reilly's please stop helping us to pray cracks yes. >> wanted to bring up those two books? >> j smile is one of the greatest books i can recommend to everyone stop helping us with a welfare state. please stop helping us. it is the same but only here in the united states. if you look worldwide. most people didn't help. in asia they did at a better way. spoke about china. we can speak about vietnam. we can sing about singapore, south korea

>> i did not catch everything you said there, but essentially, yes, i think the esg aspect of brazilove, and that will help encourage it investors to put more of their money there, as esg is a very powerful force. it is an essential factor as what we do as asset managers these days, so every little bit will help with that. i think politicians and companies in all of asia have to be aware of esg being a key aspect for attracting foreign money, and i think we can see more and more signs were that. it is a necessity more than option for governments and corporations even in this region. haidi: always great to have you with us, john vail. let's get you to su keenan. >> we start with south korea, the president as given it to be addressed promising review of safety measures following 70's crowd crushed in seoul that killed 153 people. the tragedy happened in a narrow alley as tens of thousands of people celebrated halloween. it was the first such festivities since covert restrictions were lifted last month. the news said 97 killed were women and 20 were foreigners. workers are leaving apple

. >> yes, esg and we're going to get that here. thankfully, one state has decided to fight back by hurting black rock . bottom line is bigger story than may realize. >> we've got two tales come out . >> hi, folks. it's the medicare annual enrollment period. >> and this year it's simple one before the deadline. call the number below to check your zip code for a medicare advantage plan with prescribed dental care and the benefit that adds money. back to your social security check every month. three , you'll find what you're eligible for. aep has a deadline call. now, i called to find a plan that covers more of my dental expenses. i call every year to make sure my doctor is still on my plan. i call it to find a plan with lower co-pays. i called to see if my zip code has a plan with the benefit that adds money back to my social security check. >> i called every year millions of people have called the medicare coverage helpline. you can't to get what you deserve. a rep has a deadline, so don't delay. call now. >> call 1-800- four nine z

esg is a scam. it hurts americans. it's anti-american, it's a d pro-china.o and the more the republicans g s can do to to go after scam where we get the majority back , the better off we allr will be. by the wayof, congressmen, even soap isn't safe from the leftist attacks. >> a lot t i sustainability backcloth. >> this anti backlash is incredibly dangerous for the world and the first thing that unilever will dthing o is will not back down on thisespite agenda despite these populists accusations. , doay, so congress and banks now, they don't want us to drive regular cars that we can drive anywhere we want to fill up and keep going.an they don't want that. they don't want us to have gasis appliances. is right because we can't do that. they're going to ban those. and no w, apparently, soap is anti sustainable. >> what stinky it keeps getting it keeps getting crazier and crazier at the at the at the bottom line of all this is that these hedge fundsar and corporations that are embracing esg are in cahootse with the biden administration. e to advance their social

we'll talk about dollar strength and pivot to esg. bloomberg. ♪ francine: a huge alliance of 500 entities publicly committed to reaching zero carbon by the middle of the century was widely celebrated at last year's cop26, but now some major banks have tried to dig the alliance ahead of cop27 in egypt next month. we call it the carney shop, this is the former governor of the bank of england. ninety one is a member of gfanz, and the chief executive hendrik du toit is still with us. we had a conversation two weeks ago with mark carney on this, he was pushing back on the idea that asset managers are less committed but if the regulator's make it too hard to they could slip away. hendrik: the challenge is from two areas, political, and independent from the politics is the regulatory challenge where regulators are starting to put down their own markers and making it quite difficult. because they seem to be driving towards a perfect world. if i must put my cards on the table, i am on the advisory board for gfanz, ninety one is an active parti

visit indeed.com/hire esg is responsible investing.ing esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. ♪♪ ♪♪ ♪♪ be ready for any market with a liquid etf. get in and out with dia. nurse mariyam sabo knows a moment this pure demands a lotion this pure. gold bond pure moisture lotion 24-hour hydration no parabens, dyes, or fragrances gold bond champion your skin >>> good monday morning. welcome to another hour of "squawk on the street. got some bullish action to start the week dow close to a six-week high s&p close to a four-week high despite turmoil in hong kong trading. big week for big cap earnings. >> that's right. we're 30 minutes into the trading session. here are some big movers we're watching this m

million from blackrock funds they are making the move over the asset management firm push to embrace esgs wouldcripple the energy sector in louisiana. the state has pulled $560 million from blackrock which faced pressure over its esg policies from republican led states and group. >>> the biden administration is looking to ease sanctions on venezuela to allow to start pumping oil from the country according to the wall street journal, the move would reopen u.s. and european markets to oil exports from venezuela putting new crude on to the market the journal adds the deal would require president maduro's government to allow free and fair elections in 2024 there are no sanction policies planned from the maduro regime >> thank you, silvana henao. >>> turning attention to our top story. investors still looking into the decision of opec to slash output by 2 million barrels a day the move is expected to send retail gas prices higher after weeks of decline sparking new concern around inflation brian sullivan spoke with bin salman who says this would lead to a drop off in oil and possible recessio

who's responsible for building esg into your investments?t pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. >>> twitter shares soared yesterday, as you know, after news that elon musk will go ahead with that planned $44 billion deal to take the company private. joining us this morning to discuss twitter's outlook, thanks for joining us. you do say it could potentially cease to be a public company by the end of next week i guess the question's going to be, what kinds of restructurings he can do and whether or not they ever do return to the public markets >> thanks for having me. again, what i would say is this does not mean that this deal is closed at this point, i think let's agree that musk does not deserve a lot of benefit of doubt here bu

esg is responsible investing.o's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. another busy day? of course - you're a cio in 2022. but you're ready. because you've got the next generation in global secure networking from comcast business. with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want - your team, ours or a mix of both. with the nation's largest ip converged network. from the most innovative company. bring on today with comcast business. powering possibilities. - oh, the stock market is doing that fun thing again. news from the future: you're going to live throug

quickly bl i let you go, you guys have been leaders and pioneers in many ways in esg investing. lately there's been this esg bac backlash, the treasurer of south carolina is pulling money from blackrock. what do you make of this almost partisan fight when it comes to pension funds on this topic? >> yeah, it's disheartening, brian, to me because i view the es&g, while the initials have certainly become political fire, they're just long-term business risks and it's focusing in, i want companies to make money over 10 to 20 to 30 years, not just over the next 90 days i think these are people, natural reactions to what's going to be a huge change in the next 20 years as we really have to dramatically change our energy resources and how we get energy and that means there will be some winners and losers. unfortunately in this environment, the usa, you see extreme rhetoric i think smarter people will look at this from a long-term perspective and recognize this is a mega trend that's going to take place you're going to have stronger storms, more abhorrent weather as well as the need to c