ESG investing updates
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It’s no secret that FT Alphaville has long been suspicious about ESG investing. Whether it’s the bubbly valuations attached to European businesses like wind-power play Vestas, or the attempt from many companies — and funds — to reframe their usual corporate strategy as ESG-friendly, its hard to escape the feeling that the three-letter initialism sometimes is doing more harm than good (if it’s doing anything at all).
So when we came across an essay on Medium last week from Tariq Fancy — former chief investment officer for sustainable investing at BlackRock — we weren’t surprised to see that he had arrived at roughly the same conclusion. His arguments were expertly distilled by the FT’s Rob Armstrong in his Unhedged newsletter and generated quite a heated response from “Team ESG” (or, alternatively, team “Fat Fees”). So we thought it would be great to get Tariq on our Friday Twitter Spaces to debate all things ESG.
Do tune on Friday afternoon at 4pm BST/ 11am EST. You can join the session by either following @izakaminska, @senojerialc or @jemimajoanna on Twitter or by clicking here. And if you fancy asking a question, do raise a virtual hand. We’re sure there’s someone out there with some reasonable defences of ESG and we would like to hear them.