We have a very interesting guest who has publicly voiced a major policy difference on ESG investing. Terrence Keeley, CEO, and Chief Investment Officer of 1PointSix LLC, left BlackRock, one of the world’s largest investment managers, in July 2022 to publish his book, SUSTAINABLE: Moving Beyond ESG to Impact Investing.
In his 40-year investment career, Keeley has never advised a client to invest in ESG, and he joins us to explain why ESG investing doesn’t work and what does. This is a rare occasion for a top executive at a major investment firm to go public about a major policy difference.
WEALTHTRACK Episode #1945 broadcast on May 05, 2023Listen to the audio-only version here:
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TERRENCE KEELEY
- Author, SUSTAINABLE: Moving Beyond ESG to Impact Investing
- CEO & Chief Investment Officer, 1PointSix LLC
- Former Senior Advisor, BlackRock
ACTION POINT
READ TERRY KEELEY’S BOOK SUSTAINABLE: MOVING BEYOND ESG TO IMPACT INVESTING
- Covers the history & evolution of stakeholder capitalism & ESG investing
- Presents political, business & societal pressures of addressing climate change
- Describes debate within & without the movement
- Reveals how ESG works & why it is failing
- Explains Keeley’s alternative approach: impact investing
BOOKSHELF
ONE INVESTMENT
KEELEY: LONG-TERM PERSONAL HOLDINGS
Apple Inc. (AAPL)
BlackRock, Inc. (BLK)
JPMorgan Chase & Co. (JPM)
WEB EXTRA
A GOLDEN RULE FOR FINANCE
After the global financial crisis, Terrence Keeley, then a top executive at UBS, did some soul-searching. What role, if any, had he played in the credit bubble and collapse that followed? It led him to make a personal commitment and create a new movement, the financial equivalent of medicine’s Hippocratic Oath, “first do no harm.”
IMPACT OPPORTUNITY
Once former top BlackRock executive Terry Keeley wrote “Sustainable,” his critique of ESG investing, he had to leave the firm. He had been a major advocate for the popular Environmental, Social and Governance approach to investing. Keeley shares his advice for investors still dedicated to doing well while doing good.
