ESG’s a Minefield, and Critics Are Taking a Wrong Turn

From pretty much the moment Russia invaded Ukraine, its war in the country has been held up as an example of “fundamental flaws” in sustainable investing.  Denunciations have claimed sustainable funds eschew military contractors and fossil fuels at a time the world most needs them. Such critiques are sloppy and unsupported by data.  For starters, most critics don’t know what sustainable investing even is. For the most part, their claims reflect a total lack of understanding of the diversity of the field. They seem to think sustainable investing is dogmatic, monolithic, and undifferentiated.  What they don’t understand is that sustainable investing is a big tent, addressing a spectrum of investor concerns and preferences. Yes, like all funds, sustainable funds seek to deliver competitive investment results.

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