![]() "And then the new products, what stunned me is that the vast majority of them can't show any real world impact being created. So you have to say, "I'm looking at ESG and it's great for the world and good ESG companies perform better, so this is a wonderful win-win, right?" Where we reward the better companies because they're more profitable, more capital goes to them. By the way, you have to say that, because as an investor, you're bound by a legal obligation to only focus on returns. Now, the idea behind that is that by looking at ESG information, you will become a better investor. The first thing that ESG and sustainable investing is about is trying to integrate ESG considerations and factors, just like any other new data center or set of parameters, into that $10 trillion. So let's just say it has $10 trillion worth of assets. I think they're below that now, but it's a giant investment firm. So I would say the simplest way to look at it is- and let's take BlackRock as an example-it's two things, right? BlackRock is the firm that last year hit $10 trillion in assets. Tariq: "First thing you need to do when you look at sustainable investing is define it, because it's sort-of all things to all people, and it's quite murky. We know assets under management (AUM) in these themes are $10 trillion, $12 trillion and growing every year-it's always talked about by the industry how more and more investors, especially young ones, want to get into this investing theme-but you have trouble with it, from the product side all the way through to the marketing side." You said there's a lot of marketing money put into this-this is one of the greatest marketing efforts probably in the last two decades that we've seen in the industry. But let's talk about what you see as the inherent problems with sustainable and responsible investing from the industry perspective. It's not like you try to do this under the radar-you name names here. You're talking about also individuals you worked with, some of them very high-profile. ![]() Some of our guests may sell or market securities mentioned on this podcast, but all listeners should do their own research or consult with a financial advisor or broker before making any investment decisions.Ĭaleb: "Yeah, and you do invite the industry to reply, to get into the conversation with you through your essays, which are super provocative, very personal. Some of our guests may invest in securities mentioned on this podcast. We will not make recommendations to buy, sell, or hold a particular security or asset, although we may discuss financial products with our guests. ![]() The Green Investor podcast is for informational and educational purposes only and does not constitute investment advice. ![]()
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