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SR. WEALTH MANAGER, CO-OWNER AND CO-FOUNDER, Centered Wealth
Money for Good: Why money matters to your life and our collective future. Part 2
PLANNING, INVESTING & GIVING WITH CONSCIOUS PURPOSE:
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What is your deeper place of action that is an antidote to acting out of survival or fear?
How does caring create a direct positive relationship with the future?
What the heck are ESGs? Even if you aren’t a direct investor, the principles of ESGs matter to your life and our collective future. ESG is an acronym for Environmental, Social and Governance. The goal of the movement is to ensure that companies take into account not only their profit margin but also the impact they have on the world and society as a whole.
It’s an exciting time to consider growing ESG awareness. Earth Month 2023 theme is 'Invest in our planet', and for a good reason. Caring guides your choices of investing for a future for people and our planet. In recent years, citizens, consumers, and investors have shown keen interest in putting their money where their values are and tracking companies whose business practices reflect that.
Jina Penn-Tracy is passionate about leaving this world a better place, leading her to a deep exploration of helping people understand that their actions can make a difference. Our current monetary systems are designed to create scarcity, uncertainty, and fear.
What is the Virtuous Cycle of ESGs?
Jina believes that resistance is an invitation for transformation.
There is significant resistance to these ideas of money for good: because of growing ESG awareness, the cost of doing business is increasing for oil and gas companies. Projects like tar sands or other fossil fuel extractions are no longer solid investments.
Biden used his first veto to save a 401(k) investment rule: “In mid-March, President Joe Biden on Monday vetoed his first bill, blocking the repeal of a Labor Department rule that permitted retirement investing tied to environmental and social goals. The Biden Labor Department rule allows retirement plan managers to incorporate ESG factors into investment decisions.”
ESG reporting promotes transparency and engagement in business practices, especially when considering sustainability and social equity. ESG frameworks are important to sustainable investing because they can help individuals or other corporations determine whether the company is in alignment with their values, as well as analyze the ultimate worth of a company for their purposes. ESGs are part of creating “A just, inclusive, and interconnected world — a world that works for all.” (CPL Vision)
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