Golden State Today

Paul Tice, a writer, analyst, and adjunct professor, suggests that the rise of ESG investing reflects a shift towards exerting control over capital flows and implementing government-directed agendas, diverging from traditional profit-maximizing approaches in finance. Tice was a guest on a recent episode of the Next Round Podcast.

“If you have a strong view about improving society, the environment, whatever your goal is, you make the money first and then you allow individuals to direct that based on their personal preferences,” said Tice on the Next Round Podcast hosted by the Pacific Research Institute think tank. “With ESG, we are changing that process, and we are forcing the markets to do that when it should be a personal choice. But again, it's all about control. It's about controlling the capital flows in the market, and that's why that charitable avenue doesn't work if you're an ESG activist”

“The goal is to commentary the global financial market,” Tice said. “There are trillions of dollars of capital flow every day. If you could harness that and harness all the private sector funding to implement what is a government-directed agenda, that is what they're going to do.”

Tice has 32 years in fixed-income and credit markets, he's skilled in fund management and trading. He boasts 27 years of experience in energy and infrastructure investment, covering both buy-side portfolio management and sell-side research analysis. Tice contributes to publications like The Wall Street Journal and serves as an adjunct professor at NYU Stern School of Business, focusing on energy, infrastructure, and project finance.

Next Round is a weekly podcast put on by the nonpartisan think tank Pacific Research Institute. Topics explored on the podcast revolve around California politics and free market ideas in the state. Guests include elected officials, members of the media, and policy leaders. 

Pasadena, California-based Pacific Research Institute, founded in 1979, is an advocacy organization whose goal is to “champion freedom, opportunity, and personal responsibility for all individuals by advancing free-market policy solutions,” according to the group’s website. Its president is Sally Pipes. 

This full episode is available on Apple Podcasts and Spotify.