Investments in trendy ‘ESG’ assets collapsed by $5 trillion in just two years…
In its biannual assessment, the Global Sustainable Investment Alliance (GSIA) said on Wednesday that investors had $30.3 trillion in sustainable assets in 2022, down from $35.3 trillion in 2020.
In the US, where Republicans have railed against ESG funds, which push for environmental, social, and governance benefits, such assets plunged from more than $17 trillion to just $8.4 trillion over the same period.
[…]A recent Bloomberg survey showed that investors expect the downturn to continue into 2024, with the negative sentiment extending to Tesla and other electric carmakers.
‘Sustainable bonds make for bad investments when they actually meet the radical left’s definition of sustainable, and when they don’t, Wall Street greenwashes them to justify the higher fees they charge for selling them,’ added Hild.
‘It’s a scam on investors either way.’
Related: Yesterday, America First Legal (AFL), together with co-counsel Boyden Gray PLLC and Lawson Huck Gonzalez PLLC, filed an amended complaint in its lawsuit against Target Corporation and its Board of Directors. The lawsuit is brought on behalf of a group of shareholders for Target’s misleading representations about its Environmental, Social, and Governance (ESG) and Diversity, Equity, and Inclusion (DEI) mandates that betrayed Target’s customers and shareholders and caused investors to lose billions of dollars.
Can’t give them away ?
EVs in America have a $7,200 government subsidy and $12,000 rebate, and people still won’t buy it. The cost of owing one has been estimated at $12- 15per gallon of gas when you added up several years of use. Car insurance products are off the map. Rental homes and apartments aren’t allowed to have hookups. Good luck finding a place to recharge.
Reminds me of the company that came out with the best dog food in the world. good for dogs, too, have shiny coats. Healthy, energy .The sales manager said, “Why won’t you sell it?”
Some guy in the back stood up and said,
t”he damn dogs won’t eat it.”
Biden screwed the Car Mfgs
Whatever happened to Vp Camel Harris’s 10,000, half million $500,000 dollar yellow electrical school busses ?
Guess the schools couldn’t charge enough extra lunch money to pay the electrical grid ?
Just what do they consider a “sustainable” asset?
Biden did nothing, the democrat communists did it all.
You want good laugh. Biden gave away millions to build charging station for EV. How many have been built so far. ZERO.
The paper work takes forever to complete.
Typical dem-o-rat
I’m loving this….Watching the entire colossal pile of EV BULLSHIT fall flat on its face.
Those in City Councils that thought (or DIDN’t.??), that Electric Fire & Garbage Trucks were good idea’s should, IMO, be burned at the stake…(sorta kinda slightly figuratively).
I mean Seriously: A Ford Lightening 150 Sells for $95 – 100K ish.
And what do ya get.??
Zero Tow Ability
Shit Range
2 full days to drive from Calgary to Winnipeg…
Takes 48+ hrs Min to charge at home. (Who has 220V AC in their Garage.?).
Aint no one gonna buy one used.
New battery..?? ~ 50K
…it still floors me there are still those who will buy one.
New homes in CA … by the State Building Code … MANDATE EV hookups and rooftop solar and fire sprinklers. Talk about useless $$$ additions to housing cost …
Sure hope America first legal wins and sends a message to boards everywhere that they will be held accountable for going woke and going broke.
I decided years ago that sustainable investments should be avoided like the plague. The sector was ripe for abuse as promoters hid their nonsense under the veil of higher moral purpose.
Sustainable investments are as crooked as carbon credits. People can lose money to lessen their guilt. An alternative solution would be pulling their heads out of their asses. That is free.
Both Ford and GM CEOs seem maybe to have woke up in time to stop from driving their companies over a woke cliff by announcing huge cutbacks in spending on EVs. I hope so.
DEI hires?
You won’t see this in Frozenturdistan.
Instead of being sued – or properly hanged – people like Mark Carney will push harder to legislate every aspect of DIE-Climate investment.
Poor old people are probably the fastest growing segment of the population because of these f**kers.
Last week there was a big push from the government to get people (and retirement funds) to “invest their funds in Canada”
They weren’t planning to make any changes that would improve returns though
It appears “sustainable” isn’t. The fund has been “diversified”
People in 1915 figured out why EVs weren’t viable overall — despite their many obvious advantages.
Maybe every 100 years we need to re-learn some lessons.