THE ESG WARS....2/13/23

ESG, which stands for “environmental, social and governance", is a hot button topic now on the right with conservatives pulling billions of dollars out of investment firms that offer holdings with an ESG label. The criteria for this classification is a bit muddled, but essentially means that among other things, companies must support climate change initiatives, promote diversity in the workplace, and avoid investing in countries where workers lack basic protections.

Small time investors like me have put everything into the ESG basket along with around 60% of global investors, and now conservatives are thoroughly pissed. They call it social engineering and believe that these "woke" funds are scams, designed to fool investors into thinking that they are doing good in the world by not supporting destructive forces like fossil fuels.

There's even a presidential aspirant by the name of Vivek Ramaswamy who is going around preaching the evils of ESG investing, but I believe that train has left the station. ESG's are growing in popularity and are here to stay.