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ESG: Backlash to the BacklashESG: Backlash to the Backlash

A valid investment discipline regardless of the politics.

David K. Laidlaw, Manager and Co-chief

July 20, 2023

15 Min Read
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As with any function that impacts the public domain, environmental, social and governance (ESG) investing has become political. Media commentators opine that ESG investing warps free market capitalism by stressing non-investment criteria and, therefore, weakens the dynamism of the economy. These criticisms and the counter arguments favoring ESG investing reached a climax over President Biden’s veto of Congress’ attempt to invalidate a U.S. Department of Labor (DOL) rule that allowed retirement plans to consider ESG criteria in selecting investments. These fights over the validity of ESG investing mischaracterize the ESG framework. ESG is an investment discipline that can lead to better understanding investments from a risk and reward sta...

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About the Author

David K. Laidlaw

Manager and Co-chief, Eagle Ridge Investment Management, LLC

David serves as Eagle Ridge Investment Management, LLC's Manager and Co-Chief Investment Officer. In this role, he enjoys the intellectual challenge of researching under-valued securities and working with clients to help solve their unique problems.

David worked previously at Laidlaw Group, LLC which he co-founded in 1998, after three years with Fissell, Laidlaw & Co., Inc. While at Laidlaw Group, he managed the firm and worked in a similar capacity as a Portfolio Manager.

David received the designation of Chartered Financial Analyst (CFA) from the CFA Institute in 1998. He Graduated with honors from Rutgers University School of Law Newark in 1994 and received a B.A. from Reed College in Biology in 1989.

When not working, David enjoys family time with his wife, Moira, and three children, Claire, Robbie and John. He is also an avid weekend tennis player.

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