So there’s this thing called ESG, which the SEC now enforces. https://www.sec.gov/news/press-release/2021-42 https://www.sec.gov/news/press-release/2021-42 It

So there’s this thing called ESG, which the SEC now enforces. https://www.sec.gov/news/press-release/2021-42 https://www.sec.gov/news/press-release/2021-42 It’s taking over Wall St because there was a ruling saying that ESG is now a primary criteria for the well-being of plan participants, instead of just profit. https://public-inspection.federalregister.gov/2021-22263.pdf https://public-inspection.federalregister.gov/2021-22263.pdf So naturally the investment industry sees the fees for ESG active management as an escape from low-fee index funds. So there’s a lot of money pouring into ESG, and the corporations all fight for allocations with the fund managers.