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The tyranny of ESG has run its course

The idea of ESG has been changing since the day it was just a twinkle in a marketer’s eye. Now it’s heading into its inevitable end game

    • Perhaps “dirty” industries — with their massive diesel machines, low levels of diversity and disruptive use of resources such as water – are actually “doing good” by enabling a low-carbon future.
    • Perhaps “dirty” industries — with their massive diesel machines, low levels of diversity and disruptive use of resources such as water – are actually “doing good” by enabling a low-carbon future. PHOTO: BLOOMBERG

    Merryn Somerset Webb

    Published Fri, Oct 20, 2023 · 10:00 AM

    IN 2021, almost two-thirds of respondents said they considered environmental, social and governance (ESG) factors when investing. In 2022, that number was 60 per cent, and this year it’s 53 per cent, according to the annual ESG Attitudes Survey from the Association of Investment Companies.

    Asked why they were over ESG, the top reason given was that performance was more important.

    Next up: greenwashing. In 2021, only 48 per cent of investors said they were “not convinced by ESG claims from funds”. That number is now up to 63 per cent.

    ESGsustainable investingWealth & Investing

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