Woke Financial Positions Pay A Lot More Than Normal Ones

According to data from Revelio Labs, asset management and banking jobs that are affiliated with the environmental, social, and corporate governance movement (ESG) pay much more.

Some investors and businesspeople believe the ESG movement is a distraction from profit-seeking because of its focus on social and political objectives, including reducing carbon emissions and increasing diversity in corporate leadership. Despite the rising popularity of ESG in the business world, there is a wage premium associated with jobs in this field; the average income for a finance job mentioning ESG is over $110,000, compared to the typical finance job salary of $90,000.

Global Sustainable Investment Alliance estimates that by the beginning of 2020, more than $35 trillion, or more than 1/3 of all professionally handled assets in the regions analyzed, were invested in compliance with the philosophy of environmental, social, and governance.

In the aftermath of the movement for social justice that swept the country three years ago, prominent corporations did enhance the amount to which they openly engaged on political matters. 

The ESG movement’s rising profile is not without criticism. 

Conservative customers reject popular brands that cater to the ideology, while conservative state legislators have enacted several initiatives to withdraw state funds from businesses linked to the investment philosophy.

The ESG movement is opposed by the attorneys general of seventeen Republican states, who argued that BlackRock should be prevented from investing in public utilities.

The company has filed a complaint with the Federal Energy Regulatory Commission, asking them to revoke their ability to make bulk stock purchases from utility providers. Despite attempts to highlight renewable power aims among portfolio businesses, BlackRock has said it serves as a non-controlling shareholder.

Opponents of the ESG trend argue that climate targets unnecessarily boost costs for public utilities like electricity by encouraging businesses to switch away from fossil fuels.