As if you needed anything to seal the deal about the fraudiness of green and socially conscious investments, Barron’s has a report … about investors now fleeing wokester Environment, Social, Governance (ESG) investment funds, which bill themselves as “sustainable investments.”
“Investors yanked the most money out of U.S. sustainable funds in more than five years last quarter, withdrawing a net nearly $6.2 billion to round out a tough year for environmental, social, and governance strategies.
“The net flow of money into U.S. sustainable mutual and exchange-traded funds has diminished steadily since it hit a record high in the first quarter of 2021, according to a new report from Morningstar.
“The decline comes as inflation, rising interest rates, and lingering fears of recession have weighed on markets and investor sentiment.
“But that doesn’t explain the whole shift. The increasing politicization of ESG investing also hurt investment strategies that prioritize social and environmental issues, said Alyssa Stankiewicz, associate director of sustainability research at Morningstar and a co-author of the report.”
The report claims that these groups don’t make energy investments (nor apparently, utility investments), … meaning, they’d lost out on an opportunity to make a profit in energy sector companies which are doing well this year.
“As for performance, sustainable funds lagged behind the broader market, given their lack of exposure to traditional energy stocks, the best-performing sector of the S&P 500 index with a gain of 66%. Communication services, consumer discretionary, and information technology lost 40%, 37%, and 28%, respectively.”
They went for tech and baubles, in other words, and rejected the Fossil Fuels (Renewable Energy) that propel the economy. Seems they are happy to put gas in their cars, wear vegan leather derived from petroleum products, turn on their gas stoves, jet around on private jets, and flip the ‘on’ switch on to their computers, but they won’t put a penny into all the dreadfully wicked and “morally wrong” energy and utility companies that make this modern lifestyle possible.
Click this link for the original source of this article.
Author: Mitch Kokai
This content is courtesy of, and owned and copyrighted by, https://www.johnlocke.org and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact USSANews.com using the email address in the Contact page found in the website menu.