‘Ideological attacks on ESG investing defy the free market
Environmental, social, and governance—or ESG—investing is the latest target of Republicans who want to push their backward agenda at the expense of taxpayers. It’s a method of investing that prioritizes sustainability, invests in technologies of the future, and factors in the risks associated with climate change: wildfires, floods, hurricanes, and droughts.
According to Bloomberg’s analysis, ESG returns have “trounced” fossil fuel stocks and other investment strategies, and they’re “crushing the traditional investment benchmarks” by bringing in big returns. The largest exchange-traded fund investing in ESG “increased its assets 4,700 times to $24 billion since its inception in 2016 and 80 times the past three years” while investor appetite “increased 56 times during the past three years.” The Global Sustainable Investment Alliance estimates that ESG investments have reached $35 trillion.
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