. >> true esg company versus a green walker. green washer is pretending to be an esg company to pretend to create a halo effect. when you look at the achievement of the green washer, it didn't really move the needle much and the reality is they didn't move the needle much. a true esg company is going to be able to do well financially and make a contribution to society. so the key is to draw that distinction between the real company and the green washers. charles: so let's talk about that money part you just brought up. investing in the woke era hasn't necessarily been great, not this year. consider solar down, coal down a lot. meantime hot esg plays like honest corp., they have been crushed. last year the harvard review had a headline, why esg investors are happy to settle for lower returns. how true is that? >> we disagree. if you do right by the stakeholder you will do right by the shareholder. zoo when -- so when you look at investor he has a couple range of outcomes. he may be looking for pure financial returns. he might be

we'll get his take on rising food costs, the consumer, the historic labor shortage and more and former esg former player, a former one, calls that investment movement, quote, a dangerous placebo. he'll tell us why and what investors need to watch out for. kelly? >>> tyler, thank you here is where the markets stand midday, just below session highs. the dow up 245 points right now. it's the laggard as well the s&p holding on about 4,500 the nasdaq above 15,000, now 15,131 by far the strongest of the major averages energy is leading today. oil is moving higher, and that's all because hurricane ida is strengthening heading to louisiana. we see a 6% pop of the oil and gas etf, on pace for its best week of the year the banks are also getting a lift interestingly enough, though rates are down following the talk about the taper beginning by the end of the year, the regional bank etf is up nearly 3% today, tyler. >> all right those comments by the fed chair powell is where we begin right now. powell saying it could be time to start tapering the purchases of mortgage-backed securities, treasuries an

is looking to even esg in europe, they're very advanced with that. but of course everyone is rushing. i have one statistic, 124 nations out of 202 nations have made pledges to carbon neutral or net zero, ahead of the climate summit in glasgow in november there seem to be a lot of details lacking in how they're going to achieve this pledge in the short term >> in the meantime the price of carbon hitting new highs in europe very interesting to watchits performance as those standards continue to evolve >>> sticking with esg, let's look at some of the top etfs and their performance this year. starting with esgv, it's up 20%, top holders include apple, microsoft, alphabet and amazon the ishares down 17% top holdings wind systems, next air energy and solar edge. and the ticker vftx is also up 21% this year. very similar story to esgv and the nasdaq and s&p 500 top holdings are apple, microsoft, alphabet, amazon and facebook to round things out >>> coming up, virgin galactic is taking off. support.com needs help and is the run over for zoom those stories an

. ♪ romaine: -- joe: dan moorehead is a tiger cub and a crypto wizard who thinks that a focus on esg is the next battle for the industry and believes it will be quite difficult and epic to overcome. joining us now is the ceo and founder of pantera. along with sonali. sonali: the note you sent to investors talked about esg on top of all the other things crypto is facing. ray give me -- regulation among other things. why is there such -- this such a big deal with the regulatory scrutiny around the world? dan: esg is one of the last things that people want to talk about the letter on the website yesterday really goes in. sonali: it feels like the conversation is moving so fast past bitcoin and the theory is that it's really something to watch as it rises. where do you see it theory i'm going and do you think there could be a better solution then bitcoin? dan: we think there is room, as ethereum does things that coin cannot do. we have seen the crypto markets triple on average every year for 11 years and we think they will continue the rally. caroline: you are of course the co-cio and to

matt: in terms of the esg fad, is there something to it? i know everyone wants to sound green, but they really want returns, right? is anybody really pushing to make change with those? elizabeth: i think there are, to be honest. i would say esg as a theme is something -- you could always say there are going to be groups that want to do greenwashing. but i do think there is a drumbeat throughout the asset class that says we need to think about the sustainability of business models we are investing with. they are thinking more about sustainability within a business, and business ability to exist for the long term. i think you are going to see a lot more of that within private equity firms. i would say most groups that we invest with or are speaking with today, all of them have esg policies. most of them had an esg framework in their diligence processes. many of them are doing it before in different ways but had not pricked -- had not packaged it as such. you are seeing more investors asking the question, and you are seeing more come out of pr

you have two big acquisitions, you're flaring far mo committed to esg, talking it, not just saying it, yet you're also producing the best return. you know, i've always loved pioneer, but this is a radical transformation >> yeah, jim, i think i mentioned this before on my show, but when i came back two years ago, i led the ffort we had to stop the flaring in the permian basin. it was flaring over 1 bcf a day. today we got it down to about 200 million a day. it's down to mostly private companies. we need to get the private companies to do what the publics are doing, so less than 1% the break-even price has been lowered significantly. that's our breaking in price when you add the base dividend, with two accretive acquisitions, we've now doubled the size of the company, and now we're the largest producer in texas and the largest producer in the permian basin. >> let's talk about the focus on return pioneer -- which was always a great company, but you did a lot of drilling. now you're still doing a lot of drilling, but you're far more considerate about how much you drill versus how much yo

a good example of indexing is the growth of esg. billions benmarked to esg. but there's a lot of confusion about what esg is. what role, if any, does s&p play in clarifying that confusion >> as you mentioned, bob, esg is growing all over the world including increasingly here in the u.s. our job and long history is to provide information and benchmarks, barometers and new information to the -- our clients who are the fiduciaries, the investors who make these decisions and the long history with sectors, style and now, i think, esg we're in market with products. once we feel comfortable with underlying data and methodologies, we'll get those in the hands of the marketplace. >> a lot more coming up here we're going to talk about indexing with dan on etf edge at 1:00 p.m learn how indexing works, about esg indexing, cryptocurrency indexing, trends it's all on "etf edge. also tom lydon joins us from etf enim "hfte" back right after this you packed a record 1.1 trillion transistors into this chip i invested in invesco qqq a fund that invests in the innovators of the

esg is responsible investing. who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. ♪ ♪ ♪ ♪ more diverse thinking leads to more unexpected, more thoughtful solutions. ♪ millions of vulnerable americans struggle to get reliable mtransportation solutions. to their medical appointments. that's why i started medhaul. citi launched the impact fund to invest in both women and entrepreneurs of color like me, so i can realize my vision and give everything i've got to my company, and my community. i got you. for the love of people. for the love of community. for the love of progress. citi. >>> welcome back our josh brown bought the stock of matter port back in late july the software company specializes in making 3-

that's the esg fast fact of the day. what if >> announcer: esg fast fact is sponsored by morgan stanley. cos offers investors a broader view. ♪♪ we see companies protecting the bottom line by putting people first. we see a bright future, still hungry for the ingenuity of those ready for the next challenge. today, we are translating decades of experience into strategies for the road ahead. we are morgan stanley. >>> all right. time now for unusual activity. pete, fxi and merck. what are you seeing? >> i'm starting off with merck for you brian. a stop sort of trapped like mirks often times does just below 77 here we have a monstrous trade here and it's unusual because they're out to december. everything hells has been short-term they've gone to december buying the 82.5 calls. all in one print for a dollar. that one definitely stuck out for me someb somebody looking for the namet break out to the upside. fxi going back 10, 11 days ago we saw a turn in buying in chinese names but specifically in the fxi we started to see

theme. >> as more money pours into esg investor reporting is more important than ever. bobby, thanks for joining us bobby blue with morningstar. >>> still ahead, new york is dead, long lived new york. who is giving the hamptons a run for its money? that's next. you can catch this show any time owg here by listening to and follinthe exchange podcast we're back in a moment it's where safe and daring seamlessly intersect. it's understated, yet over-delivers. it is truly the mercedes-benz of sports sedans. visit your local mercedes-benz dealer today for exceptional lease and financing offers. ♪ ♪ at usaa, we've been called too exclusive. because we only serve those who honorably served. all ranks, all branches, and their families. are we still exclusive? absolutely. and that's exactly why you should join. (vo) this is more than glass and steel... are we still exclusive? absolutely. and stone. it's awe. beauty. the measure of progress. it's where people meet people. where cultures and bonds are made between us. where we create things together. open each other's minds. ra

(chimes) esg is responsible investing. who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. that building you're trying to sell, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you can close with more certainty. and twice as fast. if i could, i'd ten-x everything. like a coffee run... or fedora shopping. talk to your broker. ten-x does the same thing, - but with buildings. - so no more waiting. sfx: ding! see how easy...? don't just sell it. ten-x it. >>> let's do final trades. dr. j, you've been doing a little buying of something you want to tell us about. >> yeah, just today, scott tapestry, tpr. why? they beat top line they beat bottom line. gave great guidance and

shares are up about 3.5% apple and the esg efforts. "tech check" is back in two minutes. jerry is here! j! mate, how are ya!? it's so good to see you. good to see all of you, yeah! why is jerry so... popular? it's been like this ever since we started using workday. what do you mean? it makes it easier to develop great relationships with our suppliers. now everyone, everywhere loves jerry. they sure do. they do. they really do. mmhmm. workday. finance, hr, planning and spend management for a changing world. if your money is working toward the same goals, why keep it in different places? sofi is a one-stop shop for your finances designed to work better together. spend with sofi and get cash back rewards that automatically go toward your goals. like investing in stocks, etfs, and crypto. that's better together. or pay down your sofi debt sooner. that's better together. and that's how sofi is helping millions get their money right. (♪ ♪) and that's how sofi is helping millions whether it's a technology first, (♪ ♪) a fashion first, (♪ ♪) a science first, (♪ ♪)

esg is responsible investing. who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. that building you're trying to buy, you should ten-x it. ten-x is the world's largest online commercial real estate exchange. and it's fast. if i could, i'd ten-x everything. like our lunch. (laughs) amazing! see it. want it. ten-x it. >>> i'm looking at my computer sxre screen and i'm looking at nvda better known as nvidia currently at $194.12, up almost 40% in three months. i know you love the company. i know you love the ceo. he's on your mt. rushmore. i know it. >> actually, he's in the louve it's da vinci. >> this stock has two consti constituencies one loves it for what it does and two and who it is. the only throws the cards a

esg is responsible investing. who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. baaam. internet that doesn't miss a beat. that's cute, but my internet streams to my ride. pshh, mine's so fast, no one can catch me. that's because you both have the same internet. xfinity xfi. so powerful, it keeps one-upping itself. can your internet do that? in business, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big da

stocks in esg funds, and the first half, microsoft, adobe and home depot that's your esg fast fact of the day. what if you could have the perspective to see more? at morgan stanley, a global collective of thought leaders offers investors a broader view. ♪♪ we see companies protecting the bottom line by putting people first. we see a bright future, still hungry for the ingenuity of those ready for the next challenge. today, we are translating decades of experience into strategies for the road ahead. we are morgan stanley. go aflac!!! what the heck, troy - that's not your kid! the aflac duck is just covering for sophie. same way he got me money to help cover her hospital bill when my health insurance didn't pay for all of it. but this isn't fair! that's exactly what i said! but then i learned health insurance isn't even supposed to cover everything. wait...for real? for real real. luckily i had aflac. aflac!!! get help with expenses health insurance doesn't cover. go aflac! !mm-hm! get to know us at aflac.com. !mm-hm! tailor made or one size fits all? made to order or ready to go? w

who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. i work for waste management, been there 5 years. we take pride in doing our job. we're so fortunate to have somebody like billy in our community. you looking good, like that hair, you got it down. i gotta work on mine. see you later darling. smiles are contagious. (laughter) i love it. >>> welcome back to "fast money," oil prices rebounding in a big way today with crude soaring more than 5%, its biggest gain since march the move snaps a seven-day losing streak and brought energy stocks along for the ride. shares of exxon mobil, conocophillips, sloan ber shay, marathon, occidental all posting strong gains in today's session. tim seymo

targets and where are you on your esg targets? >> very happy to restore the interim dividend. we completed the stock buyback we announced last year and i we are announcing a new one. this is all going in the right direction. we are also investing the most we have ever invested, $1.9 billion cash, into our core business. we look at our investment program every year. it has increased by 2.5 times over the last five years. we are investing in our business. part of the investment is making sure we are completely compliant with our own esg objectives, sustainability broadly defined. we bury commitment to be net zero by 2050. 95% of our emissions are coming from our clients, so that means working with our clients and providing them the financial assistance they need to effect their own transitions to net zero. we have also been a thought leader on a number of fronts. we realized a long time ago that the impact that we can have in the markets where we operate -- for example, the impact of building a new solar power plant in india is abou

esg is responsible investing. who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. >>> showing you white house as we come back from a break because the press secretary jen psaki is holding a press briefing as we speak and said just moments ago that the white house has seen -- started to see some leveling off of covid-19 infections in states seeing surges that is obviously welcome news our fingers are of course crossed to see if that remains to be the case it does confirm what dr. scott gottlieb was saying last evening, that he was also seeing some signals that we may be leveling off from this delta variant and what it's been doing in states down south, especially florida, louisiana and texas among them we'll keep o

esg is responsible investing. who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. you founded your kayak company because you love the ocean- not spreadsheets. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire >>> ross stores are falling after weaker than expected forecast in the earnings report. the retailer cited supply chain costs and covid-related expenses credit suisse updading petko it says it's well i supposed to benefit. woof >>> time for a cnbc news update. rahel? >> hi, sara. president biden promising to get all americans and afghan allies who want to leave out of afghanistan. about 13,000 people

they come to us for our esg strength. we have phenomenal pricing power. we are customer centric and everything we do across our 900 warehouses. every customer, we are offering them a dedicated service provision that is what we are all about. guy: you bring up the issue of labor. there is a huge shortage globally but certainly in united states and europe and truck drivers. how tight is the labor market? is this something that could have an impact on the growth trajectory? mark: there's an awful lot of tightness in the market. it is not just in the u.s.. we are also seeing it in the u.k.. that is causing inflation in the market. in so many ways it goes back to alix's question about why you need a scalable provider. a company like us that can hire at scale and with speed. that is one of the reasons customers come to us, it is because we are the player of choice when it comes to being able to hire large pools of labor. on that point we are also one of the esg leaders, so we place is a gifted amount of effort in regards to diversity, in regards to making sure

nicolai: we have various things that we look for for esg reasons. we started to settle down various things already back in 2012, and that has been a good strategy. that is something we will increase going forward. jonathan: what does that mean for the regional bias going forward? do you have to reduce that because of esg concerns? nicolai: not necessarily. we have roughly 5% invested in china. jonathan: some people call it un-investable. i've heard that over the last couple of weeks. do you think it is still investable? nicolai: i think it is investable. you have a lot of great companies there. we have large positions there, and we have been in a lot of those business models. jonathan: to believe in the business model, you have to have some predictable regulation there. some kind of certainty looking forward several years for your time horizon, all the longer. do you have that with china? nicolai: i think we have uncertainty in all markets, so the nature of it is a bit different in china, but that is life as an investor. jonathan: do you think thing

innovating technology, data, and insights to help you deploy an esg strategy to be seen as the company you aspire to be. - [announcer] at southern new hampshire university, we never stop celebrating our students. to help you deploy an esg strategy to be seen from day one to graduation to your dream job, that's why we're keeping your tuition low for the 10th year in a row. - [student] the affordability and the quality of education, it can be enough to change your life. - [announcer] as a nonprofit university, we believe in making college more affordable for everyone. - southern new hampshire university, it was just amazing experience. - [announcer] find your degree at snhu.edu. >>> south korea pazzing a bill that could have a major impact on comp ans like apple and google >> this is being described as a soteback for apple and south korea's parliament are making a lot of new moves, attracting a lot of attraction. particularly this bill bans companies from requiring developers to use their payment system they can avoid paying commissions to the app store operators, directing them instead

to increase in the energy sector and there is still a play for that pure play energy i still do like esg a lot but in the shorter term your traditional energy still has a place. >> all right courtney dominguez, thank you. we appreciate it we'll turn back to the white house cybersecurity summit we saw goldman sachs's jamie dimon walking in and google's ceo attending this high profile meeting. it's a white house summit on cybersecurity ongoing right now. expected to kick off not too long from now as the ceos are walking into the white house as we speak we're keeping our eye out for other ceos in attendance to this meeting. >>> all right, well, retail stocks being the broader market this year with one of our committee members making moves in the space today that trade is straight ahead you can tcwah us or listen to us live on the cnbc on the go app we're back in two minutes. roble. hey, cam...? ah, same deal! yeah, it's kind of our thing. huh, that's a great deal... what if i'm new to at&t? cam, can you...? hey... but what about for existing customers? same deal. it's the same deal. is he o

i know esg concerns are to the forefront to anybody in your sector. you have asked to cut greenhouse emissions by 2030, how we deliver? where is the pressure coming from? is it the russian regulators or investors -- or london or global telling you that this is what they want to see? vitaly: the bulk of our institutional investor base is in london. institutional london investors have been very vocal about the importance of climate change agenda for several years. we have taken the on board, relatively early compared to other mining groups. our very detailed plan to use our -- hence, are very detailed plan to reduce our omissions. we have come up with a granular action plan which stipulates where the reduction of the carbon footprint will come from. we will link our remote operations that are currently running on diesel fuel into grid , the russian forest powered by hydro. second, the mining fleet, underground mines. third, the direction of travel is clearly the construction of in-house renewable power that we already have. we have two power stations an

visit indeed.com/hire esg is responsible investing. who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. i work for waste management, been there 5 years. we take pride in doing our job. we're so fortunate to have somebody like billy in our community. you looking good, like that hair, you got it down. i gotta work on mine. see you later darling. smiles are contagious. (laughter) i love it. baaam. internet that doesn't miss a beat. that's cute, but my internet streams to my ride. pshh, mine's so fast, no one can catch me. that's because you both have the same internet. xfinity xfi. so powerful, it keeps one-upping itself. can your internet do that? >>> welcome back 38 minutes left

and the dow's down 272 esg is responsible investing. who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. every single day, we're all getting a little bit better. we're better cooks... better neighbors... hi. i've got this until you get back. better parents... and better friends. no! no! that's why comcast works around the clock constantly improving america's largest gig-speed broadband network. and just doubled the capacity here. how do things look on your end? -perfect! because we're building a better network every single day. >>> they've entered into a commitment that will create one of the biggest independent energy companies, by production, in the world and that's where we'll

we're pushing it we live and breathe esg. there's no question about it in every segment of our portfolio because we think it's looking at business risk into the future. if you get rid of the lingo and focus on business risk, that's what management is looking at. cyber is a classic example that should be reported to investors so we know if they're paying attention, doing something about it >> chris, good to see you as always thanks for joining us. >> my pleasure thank you. >>> up next, a triple dose of big earnings on deck what we'll be watching out for tomorrow when "closing bell" returns. mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style. ♪♪ jason, did you know geico could save you hundreds on car insurance and a who

ghbahetrt"ilbeee wl rit ck esg is responsible investing. who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. competition beat us again. how? they have a better finance system than we do. i feel like they might have a better finance system than we do. workday. how do they make better decisions faster? workday. it's got to be something workday. i think i got something. work... hey, rob, you're on mute. hello! hey, rob, there he is. workday. the finance, hr and planning system for a changing world. it's taken a lot to get to this moment. ♪ grew up at midnight - the maccabees ♪ dreams are on the line. you got this. refresh... it all, comes down, to this. ♪♪ >>> welcome back to "s

who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. the wm phoenix open golf tournament is one of the largest spectator events in north america. it's also a zero waste event, which means everything thrown away by the hundreds of thousands of people at the tournament is repurposed. in 2020, wm diverted 988 tons of material and kept 421 metric tons of greenhouse gases out of the atmosphere. see how zero waste is one of the many ways wm is always working for a sustainable tomorrow at wm.com/stories. ♪ ♪ ♪ ♪ with a bit more thought we can all do our part to keep plastic out of the ocea. [ no audio ] we know right now that the consumer is on fire and that is in really good shape an

we have various things we don't own for esg reasons. we started to settle down various things already back in 2012. that has been a good strategy. that is something we will increase going forward. >> what does that mean for the region going forward? think about china. do you have to reduce that because of esg concerns? >> not necessarily. we have 5% of the funding and china. it's one of the biggest markets in the world. it has done really well for us. we continue to be invested there. >> some people call it on investable. do you think it still is investable and why? >> i think it is. you have a lot of great companies there. some big technology companies there. we have large positions there. we believe in a lot of those business models. >> the regulatory shift can happen overnight. you need to have protectable regulation there as well. some kind of certainty, looking forward several years. do you have that with china? >> i think we have uncertainty all over the place. we have uncertainty in all markets. it's the nature of it. it's differ

for us, this esg carbon transition is by far the most important sector to be invested in. just to give you some context, over the last six months, esg-related themes is up some 25% just in the last six months, and if you compare that with education, with online gaming, with tech more broadly, and fintech, of course, the difference is night and day. these are the areas that we are encouraging investors to embrace, and clearly at the same time there are those we need to avoid. rishaad: the fun has done very well, which is -- which has done very well, which is a blessing, i suppose. i want to get into if this is an ideological shift as well in the sense that we have the education delivery people who maybe exploding some of their drivers, we have seen some of that language. does this reflect a return to a more socialist economy in a way and a more planned economy? >> on balance, i think it does. i think it represents a pretty profound psychological and philosophical shift in the approach to so-called business as usual as i mentioned in the last 20 years and going forward. i th

how does fit in the world of decarbonization and the esg push? >> 75% of all the diamonds that will ever exist are already owned by consumers. the new supply of diamonds is only about 40 billion a year, compared to 1.2 trillion above ground. we have to buy, over time, the majority of our diamonds from consumers. we are benefiting everybody who has inherited a diamond, got divorced, simply did not use their jewelry anymore. we are creating much more price discovery, liquidity, and fairness. alix: how important is being able to store, track, where your diamond comes from? where does that come in? >> we are very much cleaning up the entire supply chain. we force all of our suppliers to be esg compliant, anti-slavery, which is a serious problem still, adhere to the kimberly process, for example, to avoid any conflict diamonds. we believe we are benefiting all members of that supply chain. alix: that was my interview with a diamond standard ceo. time for commodity kicker. it is not necessarily a fun one. there is a water crisis right now. u.s. officia

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but also, we do that through compensation and not just diversity issues, but issues around esg broadly are absolutely now part and parcel on a percentage basis, a considerable part of how we determine compensation. certainly for the ceo, as well as the top management and business leaders and i think it will begin to be that, but that said, and notwithstanding what i just said, we don't want to be in a world where we're fighting discrimination with discrimination. so high performing-- and they should be encouraged to succeed as much as any other group, but there are clearly gaps and we have been certainly lagging behind in terms of remedying the shortfall in diversity and i'm pleased to say that, the companies that i'm involved in, but more generally there's a real sense that this is not just about employees and boards, et cetera, it's also about subcontractors, people who are advising us in terms of the -- the external auditors, the people managing the pension fund money, you know, there's much more that corporations can do and of course, many of these companies have large events and g

the esg play probably makes it even more attractive. alix: how can the big guys in the u.s. compete more effectively with the european players? do they come with less baggage in some ways? do they come with more money? do they come with more ways to keep employees? tom: i think in this case, they probably came with more money, and then all of these banks are trying to be as global as they can. so if goldman decides we really need to get into europe, they can certainly make a pretty compelling pitch. alix: tom, appreciate it very much. bloomberg's tom metcalf joining us there. wanted to break some news on facebook, that share now trading slightly negative on the day. the facebook antitrust case refiled by the ftc. the regulatory overhang for the big tech companies not going anywhere anytime soon. the question is, how much of a drag could be for its business? but right now, we know the antitrust case was refiled by the ftc. facebook is now down by about 0.2%. coming up, copper, iron or sinking on growth fears and -- iron ore sinking on growth fears and china regulation. this i

dow's up 230 esg is responsible investing. who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. introducing xfinity rewards. our very own way of thanking you just for being with us. enjoy rewards like movie night specials. xfinity mobile benefits. ...and exclusive experiences, like the chance to win tickets to see watch what happens live. hey! it's me. the longer you've been with us... the more rewards you can get. like sharpening your cooking skills with a top chef. join for free on the xfinity app and watch all the rewards float in. our thanks. your rewards. >>> two names to watch today in the crypto space, coin ways and microstrategy. beneficiary from bitcoin's rally

the asset manager hitting back at claims that it overstated the amount of esg assets. joining is now is steven arons, bloomberg banks reported. we broke that story yesterday and now they are heading back and saying that is not true. stephen: that's right. they are not denying that their former executive who has been making these allegations, many of the allegations are not true, but they are saying is that they stand by their disclosures. he is alleging that they describe management as esg reminded, even though they are not really. the dws has given information where that is not right, but the shares are down again today. has declined a little today. it seems like investors are not completely buying into this dws exclamation. alix: definitely not over for this space with no cohesive rules there. thank you so much. we have breaking news. the pentagon briefing underway. the pentagon saying that there was no second explosion in kabul on thursday despite an initial contrary report. joining is now is annmarie hordern. this is 24 hours after the very chaotic thursday. what a

coming back to the esg question we were talking about a few minutes ago, we were talking about some of these funds planting trees, doing other things. some of the things are burnt down now. how do we manage this from this point of view? it is a huge challenge. offsets don't work if we are going to have these kind of wildfire events. alix: i was going to go right to that. i love agreeing with you because we are on the same line sometimes. some might say we will sweep that aside, but if you talk to bp, i've asked, carbon offsetting, planting trees, come on. he's like, i can't do anything else yet. we will eventually transition to other assets, but in the meantime, i have to plant the trees if i'm going to meet the goals. there is no other option. what do you do if they are burning down? guy: it's a problem the airlines are facing as well because you haven't been able to scale at this point sustainable aviation fuel. it is a feedstock issue, i policy issue, a technology issue. so we are not there yet. ultimately that may be the direction of travel, but even that is may be a temporary solu

i mean, the biggest part of esg so far has the g, the governance aspect of it we've been very active in that area through corporate engagement programs. we don't not have any mandated program in terms of allocations to certain types of investments in those areas, as well as divestment sort of programs. what we are doing is selectively ailing indicating through what we believe are good climate mitigation adaptation strategies that will help in this process of, you know, getting to the target, whatever the climate specialists are promoting. so we are engaged in that. we have allocated through in private equity and other strategies, looking at not only alternative energy, but also improving energy efficient, transmission, those types of strategies >> thank you so much for joining us good to see you. >> yeah, good to see you both. thank you very much. >>> up next, the classic car market is seeing a new wave of young buyers robert frank is live in monterey, california at the pebble beach car auctionses. robert >> reporter: wilf, they are the robinhood traders of the classic car world. thi

so for people that want to get a broad based positive from the infrastructure growth is through the esg sector and strategy. >> nancy and michael, thank you. for more trading nation, head to our website or follow us on twitter @tradingnation tyler. >> thank you very much, rahel. after the break, the next stop in our powerhouse road trip, austin, texas. the housing market has been as hot as any in the country. inventory low, prices high but there are some risks for buyers we'll discuss that next. >>> and now the latest from tradingnation.cnbc.com and a word from our sponsor. >>> during bull markets many traders find themselves attracted to small cap stocks because they have a higher beta, meaning they generally move up faster than the broader market don't overdo it on the small caps because they're also more vulnerable to pullbacks. >>> our powerhouse road trip heads to austin. median home prices up 33% from just last year, the biggest percentage change of any major city according to zillow let's bring in jeanette spinelli jeanette, welcome. the buying frenzy has been hot sometimes you'v

in all of 2020 blackrock estimates that the total esg market will reach $1 trillion by 2030 u.s. leaders etf is up 22% this year outperforming the broader markets. that yr g stacofhe'souesfa ft t day. what if you could have the perspective to see more? at morgan stanley, a global collective of thought leaders offers investors a broader view. ♪♪ we see companies protecting the bottom line by putting people first. we see a bright future, still hungry for the ingenuity of those ready for the next challenge. today, we are translating decades of experience into strategies for the road ahead. we are morgan stanley. i've spent centuries evolving with the world. that's the nature of being for the economy.ad. observing investors choose assets to balance risk and reward. with one element securing portfolios, time after time. gold. agile and liquid. a proven protector. an ever-evolving enabler of bold decisions. an asset more relevant than ever before. gold. your strategic advantage. i'm dad's greatest sandcastle - and greatest memory! but even i'm not as memorable as eating turkey hill

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nothing wrong with trading a stock like this, too. >> when you look at this, you have to be weary of esg as nadine just said to bp's chart pounced off the recent lows. the large names look better than if you go to the refiner names or anything else because the other names are factorying in we have a second slowdown or a lockdown yet again so it is value and nadine's names speak to the value complex. >> bono, where are you in energy. >> i'm on the side lines i think it was a big reopening darling and definitely had its run. i think given the unknowns you don't have to have a position on it and right now i don't have enough conviction for u.s. domestic i'm playing energy via other markets. >> all right for more "options action" tune into the full show tomorrow at 5:30 where you'll find mike khouw. there is just a few more minutes left to vote in our twitter poll are you buying nadine's fast pitch on volkswagen. we have the results an the final trades up next it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off. you downloaded th

esg a factor that definite li goth consider, but we might be overpaying this. it's kind of a cost of doing business to all companies, even the exxons of this world, that they have to check that sustainable box, and therefore, i think, that those premium -- anyway, we must pivot away and get to shepard smith >> the white house pool has notified that the president will be out in about two minutes, and what the road is forward regarding all of those who have been left behind, depending on whom you believe about the numbers, hundreds, 100 to 200, maybe more, have not yesterday been able to, for one reason or another, and thousands, even thens of thousands of afghans who have been promised by none other than the president himself have not been ability to escape an the pad forward we got a paper statement from president biden yesterday. the president initially was to have appeared today at 1:45 eastern time that was moved ahead a bit now we have arrived at 3:30 eastern time jen psaki said this morning on twitter, that the president will express his thanks to the serv

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commodities, commodities that have rallied one is up over 20% tissue but the stocks have logged there's esg overhang in over energy stocks but the way that we see as the world economy is vibrant there's many supply constraints in commodities and we have a bull market for commodities i think the stocks will catch up you have stocks of the backward looking meals including special dividends of 10%, the companies and gold-mining companies are printing cash, i think their day will come in the next couple of years. so it's not particular in etf but is natural resource equity. jack: oil investors are squeezing the remote controls and cheering on, thank you for coming on the show, coming up videogame stock 10-cent tank after chinese called opium for the mind, it sounds bad tylenol for the thumbs for gamers but opium i'm against it, what is next for china's videogame market in america, that is next. ♪ oh! are you using liberty mutual's coverage customizer tool? so you only pay for what you need. sorry? limu, you're an animal! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪

companies have become aggressive in presenting themselves attribute or progressive ideology, esg investing which stands for environmental social governance has become the big thing in finance and all over each other to demonstrate the commitment to green energy in the big new trend diversity, equity and inclusion in their ranks. all of this is profoundly undermining of capitalism, just a formation of the stock company more than 200 years ago companies have as her primary goal profit for their owners and their shareholders, that's been a remarkably efficient system that is a very core of capitalism in its lifted billions of people around the world out of poverty. chief executives have decided that profits are the most important after all their job is to look after stakeholders a nebulous idea which includes an obligation to the widest in which they function. how did we get here, what are the consequences to the woke corporate revolution. they have seen the woke revolution and corporate america's firsthand in 2014 he found the highest successful life sciences company but many tech leaders he