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Goldman Sachs: Excluding Big Oil from ESG Portfolios is a Mistake ...Middle East
Previously, we reported that the ESG investing boom of yesteryears has gone bust. Environmental, social and governance (ESG) investing spiked in 2020 and 2021 amid the COVID-19 pandemic with low oil prices driving more investments beyond fossil fuels, while fund managers tried to appear more climate-conscious. However, the oil price boom of 2022/2023, political backlash against ESG led by Republican politicians as well as claims about greenwashing have made ESG investing lose plenty of luster. To wit, Texas has barred state entities, including…
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