Everyone is talking about the ESG backlash

ESG hasn’t been yielding the desired financial performance of late, and the absolute necessity of achieving carbon neutrality by 2050 does not diminish investors' demand for a return on capital. Constrained by their fiduciary responsibility to their clients, investors are abandoning the preservation of the biosphere and biodiversity in favour of the search for yield. Meanwhile, some of the world's largest asset managers have scaled back their ESG ambitions. BlackRock, JP Morgan AM, Pimco and State Street Global Advisors left the Climate Action investor coalition in February 2024. This seemingly...