ESG funds are already feeling the blowback as hedge funds are lowering exposure to them. The higher the ESG rating, the larger the blowback.
In the end money always wins over fantasy.
But ESG was always Counter-intuitive. Do we have that many trust fund bebies in the US market that were willing to sacrifice their own portfolio for stupid virtue signaling to the New World Order?
ESG may be suffering blow back, but it has already done its damage. Look at Goldman Sachs. Look at the Wall Steet Journal, I heard that the WSJ is being sued for offering “free ESG” investment advice to retuning subscribers.