3 ms·
ESG itself isn't new. To pick on Environment specifically, according to [0] fossil fuel divestment campaigns have been around for over a decade now. It's also
by nix0n 2y ago
ESG itself isn't new. To pick on Environment specifically, according to [0] fossil fuel divestment campaigns have been around for over a decade now.
It's also not really American politics: concern for the global environment is a global movement. Most Western democracies have significant environmental planks in the platforms of whichever party is furthest left, and/or a whole Green Party.
Anti-environmentalism exists as more of a USA political movement, although it's starting to bleed into other countries (and into the financial world).
Happy Earth Day!
[0] https://en.wikipedia.org/wiki/Fossil_fuel_divestment https://en.wikipedia.org/wiki/Fossil_fuel_divestment
- ronsor 2y agoMost criticisms of ESG don't have anything to do with the environment aspect (unless we're dragging in the "carbon credits" scam), so I'm not sure if it's worth picking for an example.
- mfb 2y agoSo-called socially-responsible investing has been around at least since the 1970s, when anti-Apartheid mutual funds were launched. It seems like the main change with ESG is that larger firms have adopted the concept, with lower fees/expense ratios.