@sickburnbro @chancey > "diversity increases returns"...[a lie] is a breach of their fiduciary duty
I think our side slings a bit too much mud at Vanguard. They specifically got out of the ESG space and went hands-off in 2021 and voted AGAINST every single ESG issue in 2022. In 2023 they issued a statement saying explicitly pursuing ESG was an abandonment of their core principles of efficient market hypothesis [this is the fiduciary duty mentioned above and is what vanguard fund holders sign up for]. Basically they did help put stuff in place years ago, and then realized it was a terrible road to pursue and have walked back everything when able. Again looking at the fiduciary element, it is probably a better idea to let companies handle their own walkbacks on much if this rather than aggressively push for things that might lead to market volatility and harm shareholder profits.

Back out of the business side of it, they ought to get their stuff together ASAP and start voting actively to kill this. Black Rock can't be allowed to control things ever again.