McDonalds corp. is the latest US giant to retire some diversity goals, following the likes of Walmart Inc. and Nissan Motor Co. Corporate ESG strategies have come under pressure from conservatives in the US following the Republican success in the election, with Trump promising to remove DEI practices from the federal government. Bloomberg covers the story.
This anti-ESG US trend is thought to be to impacting attitudes in the City of London, with fewer funds applying for the FCA’s new sustainability labels. According to MorningStar, only 43 UK funds applied for an ESG label, with Schroder’s British Opportunities Trust notably deciding not to apply for a label and removing any mention of ESG from its investment policy. The Telegraph covers the story.
