Page 23 - NO.155銀行家雜誌

年前的美國內戰很像，各方的「文化」差異 多元、平等、包容」（Diversity, Equality,
也並不新鮮。拋開法律，從經濟學的角度切 and Inclusion）培訓，如雨後春筍般誕生，雖
入，反而更能看出一觸即發的局勢，會在什 然效果有限，卻在文化戰爭中引發強烈情緒
麼時候，以什麼方式擦槍走火。其中一個潛 反應。批評者認為這種培訓根本浪費時間，
在戰場，似乎就是金融業。 甚至是在排擠白人員工。目前還沒有人用指

金融科技開啟了被動投資的浪潮，讓少 數基金的方式，要求企業遵守「職場性別多
數幾個集中的節點，得以掌握大量的資本流 元、平等、包容」規範，但小公司跟面對廣
動。國際的ESG投資客，就是利用這種方法， 大資本的大公司，對這項規範的看法已有巨
阻止化石燃料業者獲得資金，但化石燃料業 大差異，企業總部和分部的立場也經常不
跟共和黨一直走得很近。 同。社群媒體則看情況，決定要不要遵守。
美國的E S G走向與其他國家有點差異， 雖然保守派一直站在資本這邊，這次卻不
這種「覺醒的資本」（Woke Capital），美 喜歡ESG投資。2021年，佛州共和黨參議員盧
國把重點放在社會而非環境。過去幾年來， 比歐（Marco Rubio）向參議院提出《不要管太
著重性別、性取向、種族多元的「職場性別 多》（Mind Your Own Business Act）法案，反

Commission has used for the past 100 years is timing of current tensions, and it can also highlight
unconstitutional, forcing the agency to use a different, areas where the culture wars are likely to go next. In
more time-consuming procedure in Texas, Louisiana, particular, finance seems like a likely target.

and Mississippi than in the rest of the country. Fintech has enabled passive investment
Because of the different interpretations offered strategies in which a small number of centralized
by the two appeals courts, the Supreme Court is nodes can control massive capital flows. International
likely to visit the issue at some point, and to thereby ESG investors have used this capability to deny
decide on the future of the internet. capital to fossil fuel projects, a sector that has always
been close to the Republican party.
Finance is also scalable ESG has however developed somewhat
differently in the US from its international variant –
It’s easy to focus on the ideological facets of as “woke capital” with a much stronger focus on the

the culture wars, but would be is a mistake to expect social element than the environment. Over the past
too much consistency. In fact, to a striking degree, few years, Diversity, Equality, and Inclusion (DEI)
the current fissures correspond to those during the training has become quite common. Its functional
Civil War more than 150 years ago, so the cultural significance is likely limited, yet this is one of the
aspect is not new. Economics offers a much more elements of the culture wars that generates some of
comprehensive explanation than legal theory for the the strongest strong personal reactions. Critics call it

台灣銀行家2022.11月號 23

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