>>62248876The real answer is that it's a marketing term used to group "good" companies together.
So you tell people what the "good" comapnies are by some arbitrary metrics, charge a higher fee on your fund, and the people that invest get to feel good about themselves.
It's stupid because the real world is complex.
Defence companies aren't ESG, until a country you like gets invaded then they are.
Oil companies aren't ESG, until gas prices get too high because foreign countries cut back their output.
