The Ezra Klein Show

Vox's Emily Stewart talks with Tariq Fancy about whether or not "socially responsible investment" is a scam. Fancy is a former executive who led sustainable investing at BlackRock, one of the world's largest asset management firms. The two discuss why these investment vehicles were developed and promoted, the failure of corporations to voluntarily self-regulate, and the need for government action to actually address the issues that ESG funds claim to be taking on. Host: Emily Stewart (@EmilyStewartM), Senior reporter, Vox Guest: Tariq Fancy (@sosofancy), founder & CEO, Rumie Initiative; former CIO for sustainable investing, BlackRock References:  "The thorny truth about socially responsible investing" by Emily Stewart (Vox; Oct. 10) "Blackrock's former sustainable investing chief now thinks ESG is a 'dangerous placebo'" by Silvia Amaro (CNBC; Aug. 24) "BlackRock's Message: Contribute to Society, or Risk Losing Our Support" by Andrew Ross Sorkin (New York Times; Jan. 15, 2018) "Harvard Will Move to Div