The proponents for ESG are on their heels. Recently I’ve noticed that their argument has become, “ESG investment is the free market, and if you don’t like it you’re a reactionary.” What they’re really saying is that ESG forces the populace to embrace their political pet projects, and if you’re anti-ESG you’re holding up progress.
If ESG were what the market called for people wouldn’t be concerned about paying increasingly high energy prices, the merits of companies and their products, or personal freedom. ESG is far from a market phenomenon. It’s the pet project of billionaire activists utilizing government power to strong arm investment firms, corporations, and individuals into their manufactured Overton Window.
Very good.