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I think ESG investing is all about returns over the long term. The transition to renewable energy will eventually cause the profits of big oil to come under pressure. I don’t want to be invested in them when that happens!
That being said, I don’t think that these ESG scores have enough useful information in them.
The only thing to know about ESG investing is its dumb and vile
Many ESG tenets are extremely controversial and political – wrapping this up as merely ‘ethical’ is simply disingenuous.
You then look at some of these political ideas embedded in ESG – hiring on the basis of group membership rather than merit, hostility to nuclear energy, disparaging home defence industries, excluding people, even customers, for their political or religious views (eg debanking) – and you realise ESG is at not as unambiguously ethical as its advocates like to claim.
There should be ethics in investing – I personally steer clear of tobacco and Chinese companies – but ESG is not my guide to ethical investing but the opposite.
ESG ETFs are just fluff, no real Environmental Social Governance commitments. None of the 60+ ETFs I have analyzed with several tools available for free on the internet have no commitment. Very very few, like 5 or less of those 60+, have a real commitment with the Environment Social Governance, the rest of them is just for show.
ESG was a wrong way of investing…..