“On a relative basis, flows to ESG funds remain healthy, as compared to traditional funds. So one could say that from the asset managers’ perspective, the ESG model isn’t broken. Actually, its proven very resilient,” says Pucker, who has written extensively on ESG investing. “From the perspective of the planet, ESG is almost irrelevant. And from the perspective of the individual or institutional investor who thinks they are getting either alpha impact, I would argue it is broken.”
https://www.barrons.com/articles/sustainable-funds-face-big-challenges-esg-winners-51672961981
Thank you to the Economist for interviewing me for this piece. It is spot on. Speaking of ESG investing, the article notes “it has a negligible impact on carbon emissions, especially by the highest polluters. Its attempt to address social issues such as workplace diversity is hard to measure. As for governance, the ESG industry does a lousy job of holding itself to account, let alone the companies it is supposed to be stewarding. It makes outsized claims to investors. It just unmanageable demands on companies.” Not a great report card.
Business of Fashion
“Market based solutions in fashion have proven ineffective.”