546. Are E.S.G. Investors Actually Helping the Environment?
Update: 2023-06-15
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Probably not. The economist Kelly Shue argues that E.S.G. investing just gives more money to firms that are already green while depriving polluting firms of the financing they need to get greener. But she has a solution.
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Great analysis, but it seems logical to conclude, that it is not exactly a choice of investing in Green or Brown. Neither will deliver results without investors being active in there position. So the conclusion to me is we need more companies like Engine #1 and invest in them as in funds. And they would invest not just in Brown companies, but also would ensure the impact of this investment
Kelly Shue's analysis seems to focus on second order effects while ignoring first order effect of sector by sector analysis. ESG results by sector may look very different.