# Environmental Madness on Wall Street is Silencing Research Analysts

1 Opinion May 31, 2022 Washington Examiner ![Headshot of Professor Paul Tice](/sites/default/files/styles/246w/public/assets/images/Paul%20Tice%20230x260.png?itok=3SMKnKvD) By Paul Tice >

From London to New York, an iron curtain is rapidly descending on research departments across Wall Street in the form of the sustainable investment movement, which posits that environmental , social, and governance, or ESG , factors are the key to market outperformance over the long term. Analysts that don’t get on board with the ESG program — especially when it comes to climate action and the need to decarbonize — run the risk of being canceled.

Like the lawyers in Shakespeare’s Henry VI, Wall Street research analysts — whose fundamental sector and company analysis provides the underpinnings for security valuation and efficient primary and liquid secondary trading markets — stand in the way of the ESG mob now intent on creating a “sustainable global financial system.”

Consequently, one of the first things that ESG activists have focused on with their integration efforts over the past five years has been to co-opt research analysts on both the sell-side and the buy-side of the business and enlist them — mostly under duress — to serve as the Praetorian Guard for the ESG movement.

Read the full [*Washington Examiner* article](https://www.washingtonexaminer.com/restoring-america/faith-freedom-self-reliance/environmental-madness-on-wall-street-is-silencing-research-analysts).
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*Paul Tice is an Adjunct Professor of Finance at NYU Stern.*
## More from Paul Tice

- [Where Europe Leads on Climate, the United States Should Not Follow.](https://www.stern.nyu.edu/experience-stern/faculty-research/where-europe-leads-climate-united-states-should-not-follow)
- [The SEC’s Risky Plan to Decarbonize the U.S. Financial Markets.](https://www.stern.nyu.edu/experience-stern/faculty-research/secs-risky-plan-decarbonize-us-financial-markets)
- [Oklahoma’s Anti-ESG Law Is Not Hurting Sooner State Taxpayers or Retirees.](https://www.stern.nyu.edu/experience-stern/faculty-research/oklahomas-anti-esg-law-not-hurting-sooner-state-taxpayers-or-retirees)
- [New York’s ‘Congestion Pricing’ Economy](https://www.stern.nyu.edu/experience-stern/faculty-research/new-yorks-congestion-pricing-economy)
- [Shall I Compare New Jersey’s Curriculum to a Summer’s Day?](https://www.stern.nyu.edu/experience-stern/faculty-research/shall-i-compare-new-jerseys-curriculum-summers-day)