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RECENTLY, THE US DEPARTMENT OF LABOR issued guidance about investing retirement plans in socially responsible companies. In what appeared to be a reversal of the previous administration’s guidance, DOL stated that investments based on environmental, social and governance (ESG) criteria aren’t always a “prudent choice” and that such factors shouldn’t “too readily” be considered as economically relevant.
There’s some truth to this, but it’s really no different from saying that non-financial criteria ANYWHERE might cloud your view in making purely financial decisions.
Here’s the problem: This is taking a very narrow and short-term view of investing.
PEOPLE OFTEN COMPLAIN that companies only worry about the current quarter, or even the current week.
I don’t care if you’re a one-person business, or a billion dollar mega-corporation. You care that the business is going to survive. For years, decades, even forever.
As a leader, your role is to plan for that future, to lay the groundwork and structure for enduring success. So don’t complain about the shortsightedness of the stock market, or the regulators, or your boss. It doesn’t help.
