ESG investment – for the uninitiated, deploying your money in line with environmental, social and governance principles – has become a multi-trillion-pound craze. Some Republicans are leading a backlash against ESG investing and so-called 'woke capitalism,' particularly in oil states such as Texas. The irony of an arch-capitalist like Fink being pilloried, not for being too rich, but too green, is exquisite. Green investment opportunities abound in the UK, Europe and the US, where President Biden's Inflation Reduction Act is pouring billions into environmentally friendly projects. At best, under this reading, much ESG investment is virtue signalling, that does little to help the planet's problems.

Source: Daily Mail May 07, 2023 22:12 UTC