Praised in Europe, “responsible” finance is viewed with suspicion by the US government. While management heavyweights have pledged to green their offer, like BlackRock, the Trump administration wants to limit the inclusion of ESG in retirement savings products.
Responsible finance is not unanimous in the United States. The Trump administration wants to limit the supply of funds incorporating extra-financial criteria into retirement savings products, explicitly to protect the financial returns of future retirees. The stakes are colossal for the asset management sector: nearly 11,000 billion dollars in assets are concerned. This approach is in total contradiction with that favored in France and in Europe, where regulations have evolved in recent years to promote the development of savings products integrating environmental, social and governance (ESG) criteria, whether in the retirement savings or life insurance.