July 20, 2021
Federal workers will now have the option to invest their retirement and savings accounts directly into Environmental, Social, and Governance (ESG) factors. There are 6.3 million participants with federal agency contracts who will now have access to mutual funds with ESG. The Federal Retirement Thrift board will allow TSP participants to invest in ESG because demand is there for it. Congressman Andy Levin said that they want people to align their long-term financial interests with their core values and what makes them feel good. There is no mandatory component but rather an expansion of the options allowed to investors through their existing plans.
FINSUM + Magnifi: Many were calling ESG a ‘bubble’ which was probably reactionary at best, but this influx of participants is enough to justify current prices and then some.
Other news today: New Regulations Means Funds are Better Than Stocks and Summer Bond Market Flummoxes Investors
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