Environmental, Social, and Governance (ESG) concerns have continued to build upon their recent notoriety. Investment flows into ESG integrated investment strategies were growing rapidly, even while a very anti-ESG Administration was in office.
With President Biden’s election, this growth has only accelerated. The personnel that has been put in place will provide support to this trend, as a “Whole of Government” strategy is pursued in the battle for greater sustainability.
Into the Forefront: Social
Concern over inequality has been growing for some time. The 700-page academic tome, “Capital,” by French economist Thomas Piketty reached number one on The New York Times Best Seller list in 2014. Its focus is wealth and income inequality. The Gini coefficient, a once-obscure ratio that measures inequality, has become a fairly common data point in policy discussions. The impact of the Pandemic has focused the spotlight that had been shining on ESG concerns, putting Social issues front and center.
Joe Biden has referred to himself as the most pro-Union president in history. Unsurprisingly, he’s also the most proESG president in history, and the personnel in his administration reflect that. Marty Walsh serves as Secretary of the Department of Labor. He is the first DoL Secretary with union roots (Laborers Local 223) since William Usery Jr. served in Gerald Ford’s administration in 1976.1
The President’s support and Secretary Walsh’s leadership are expected to help Union membership stabilize and perhaps recover some of the declines experienced. Investors growing focus on the treatment of employees will make it more difficult to hide inappropriate corporate behavior. This includes the mistreatment of employees and puts a spotlight on employers who do not offer reasonable pay and benefits.
Timothy Calkins, CFA
Co-Chief Investment Officer
Timothy serves as a member of the Nottingham Investment Policy Committee. He brings over 22 years of investment experience to the team. Timothy is responsible for corporate and municipal credit research & trading, as well as contributing to our economic outlook and interest rate expectations. He also leads our alternative investment research and custom allocations, with a focus on private credit and liquid alternatives. Timothy’s membership and active participation with the Buffalo Angels group keep him connected to the local start-up community.
Nottingham Advisors offers both institutional and individual clients experience, sophistication, and professionalism when helping them achieve their goals. With over 40 years of serving Western New York and clients in more than 30 states, Nottingham tailors each solution to fit the specific needs of each client.
For more information about Nottingham’s offerings, visit www.nottinghamadvisors.com or call 716-633-3800.
Nottingham Advisors, LLC (“Nottingham”) is an SEC registered investment adviser located in Amherst, New York. Registration does not imply a certain level of skill or training. Nottingham and its representatives are in compliance with the current registration and notice filing requirements imposed upon SEC registered investment advisers by those states in which Nottingham maintains clients. Nottingham may only transact business in those states in which it is registered, notice filed, or qualifies for an exemption or exclusion from registration or notice filing requirements. For information pertaining to the registration status of Nottingham, please contact Nottingham or refer to the Investment Advisor Public Disclosure Website (www.adviserinfo.sec.gov). Any subsequent, direct communication by Nottingham with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.
This newsletter is limited to the dissemination of general information pertaining to Nottingham’s investment advisory services. As such nothing herein should be construed as the provision of personalized investment advice. The information contained herein is based upon certain assumptions, theories and principles that do not completely or accurately reflect your specific circumstances. Information presented herein is subject to change without notice and should not be considered as a solicitation to buy or sell any security. Adhering to the assumptions, theories and principles serving the basis for the information contained herein should not be interpreted to provide a guarantee of future performance or a guarantee of achieving overall financial objectives. As investment returns, inflation, taxes and other economic conditions vary, your actual results may vary significantly. Furthermore, this newsletter contains certain forward-looking statements that indicate future possibilities. Due to known and unknown risks, other uncertainties and factors, actual results may differ materially from the expectations portrayed in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of their dates. As such, there is no guarantee that the views and opinions expressed in this article will come to pass. This newsletter should not be construed to limit or otherwise restrict Nottingham’s investment decisions.
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