Finance and Investing
ESG Investing Is The World’s Biggest Scam
Environmental, Social, and Governance principles sound nice, but here’s why the entire sector is built on pillars of false virtue.
Every decade we get a buzzword that is oversold and overhyped to the masses. No, not Crypto or Blockchain (although it qualifies). Today, I’m talking about ESG = environmental, social, and (corporate) governance.
Many investors are increasingly applying ESG non-financial factors to identify material risks and growth opportunities.
But two months ago, the S&P removed Tesla from its ESG Index, citing Tesla’s “lack of a low-carbon strategy” and “codes of business conduct,” along with reported racism and poor working conditions. Tesla — the poster child of electric vehicles and battery storage technology, the catalyst driving other car companies’ electric strategies, the largest car company by market cap, and the only reason why electric cars are cool.
Meanwhile, ExxonMobil is in the top 100 list of ESG companies…
Naturally, I was curious. So I dug into the data and present you dear readers with today’s musing: ESG as an investment factor is complete bullsh*t. To be clear — the general concept of ESG…
