So says ESG pioneer Paul Clements-Hunt, who coined the acronym, in a piece by Bloomberg, saying “the finance industry has done little to account for environmental, social, and governance risk.” ESG attracted trillions of dollars hinging on a precept of sustainability that does not exist anywhere in the universe.
Should I remind you I told you so?
Paul goes on to say “Anybody who uses ESG, sustainability or green purely as a marketing device is really heading for trouble.” “You’ll see a developing queasiness from marketing departments where, perhaps, ESG funds aren’t all what they’re cracked up to be.”
