Trump’s ESG Plan, Shunned by Fidelity, Spawns U.S.-Europe Divide

It’s become a hackneyed truism in the age of Covid-19 that global problems need coordinated global solutions. When it comes to combating climate change, the U.S. appears to be setting out alone.

The Trump administration has proposed a rule change that would make it more difficult for fund managers to incorporate environmental, social and governance factors when making investment decisions. At the same time, European policy makers have made the greening of the region’s economy its top ambition and have placed unprecedented demands on the investing industry to contribute to that goal.