The week of February 7: ESG, net zero’s troubles, inflation, modern monetary theory, and much, much more.
Before we dive into this week’s Capital Letter, a reminder: NRI’s biennial regional seminars are back, starting with Palm Beach (February 16), Newport Beach (March 2), and Menlo Park (March 3). Please scroll down for more details.
NRPLUS MEMBER ARTICLE
he purpose of a pension fund (unless the pensioners actively choose otherwise) should be (on a risk-adjusted basis) to maximize financial return. The pursuit of a socio-political agenda should be no part of its managers’ mandate.
And yet (via Bloomberg):
New York’s $280 billion state pension fund will divest more than $238 million in shares and bonds of oil and gas companies including Pioneer Natural Resources Co., Hess