Over the past few years, ESG, or socially responsible, investing has become almost insanely popular. According to the Forum for Sustainable and Responsible Investing, ESG – which stands for environmental, social, and governance – now accounts for one-third of all U.S. investment assets.
At the same time, however, the term itself has become so general that it has lost much of its meaning. The Forum defines ESG investments as those for which a manager has considered “ESG issues” in their “research, analysis and decision making,” which sounds not just vague but an awfully low bar.
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