Have you heard of an ESG fund? That’s an investment firm that invests based on a company’s “environmental, social and governance performances.” In other words, it's a rare example of “progressives” actually putting their own money where their mouths are, instead of someone else’s. They get to virtue-signal by betting their savings that “progressive” companies will actually return a profit. I’m glad I didn’t believe that and invest in Disney.
But just as socialists eventually run out of other people’s money, even ESG firms can’t lose their clients’ money and still stay in business. And since the only S&P 500 sector showing year-to-date gains in this cratering Biden market is energy (thanks to his war on US fossil fuels and the resulting skyrocketing gas prices), Western Journal reports that these E(again, for “environmental”)SG firms are quietly buying…oil company stocks.
I guess it’s true: what’s really important to them is the green.