ESG tried to replace market with political system. A layer of central planning. A scam layer. A very profitable bureaucratic burden for the unproductive sector.

The articles saying ESG is dead are plentiful these days and investors have apparently moved on. But there is a safe place for ESG, it's called EU. The ESG reporting is mandatory for bigger companies and the plan is to force it upon smaller and smaller subjects as the time progresses. Why should they play along? In europe, most of the funding comes from bank loans, not from markets. And banks lend according to... ESG. The unproductive class saved.

https://www.ft.com/content/d4082c75-3141-4a58-935b-60a44c22897a