Eight of the Most Responsible Fund Firms Are ...
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Wednesday, December 7, 2022

Eight of the Most Responsible Fund Firms Are ...

At least eight firms in the mutual fund business are among the most responsible U.S. companies from an ESG perspective, according to the folks at a news magazine and a market data specialist.

Kamal Bhatia
Principal Asset Management
President of Principal Funds, Senior Executive Director, Chief Operating Officer
The teams at Newsweek and Statista have unveiled their 2023 list of America's Most Responsible Companies. The list (now in its fourth iteration) includes 500 U.S. companies (whittled down from a list of the 2,000, U.S.-based, publicly traded companies with the most revenue plus a list of all banks and insurers with assets above $50 billion) and is based on quantitative ESG (environmental, social, and governance) data and a corporate social responsibility survey of U.S. residents. (Companies recently involved in major CSR-related scandals and lawsuits were excluded.)

In the asset management business, companies on the 2023 list of the most responsible companies include: Principal Financial Group at 79; Invesco at 147th; J.P. Morgan at 163rd; Prudential (parent of PGIM) at 207th; State Street (parent of SSGA) at 236th; BNY Mellon at 269th; Ameriprise (parent of Columbia Threadneedle) at 406th; and T. Rowe Price at 408th.

Nancy Cooper, global editor in chief of Newsweek, describes the list as a way "to highlight those corporations that are actually serious about trying to be good guys."

"Talking the talk is easy, but walking the walk is hard," Cooper writes. "We are proud ... to honor companies that actually mean it when they say they are serious about being good corporate citizens."

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