This is doomed to fail because ESG’s are not based on tangible things like profit margins and success of a company, but on how somebody feels about whatever social justice belief someone shares at that particular time
People invest because they want to make money. As Danny DeVito’s character said in the movie, “Other People’s Money,” people become stockholders because they want to make money. They don’t care if the company produces wire and cable, fried chicken, or tangerines. They want to make money.
Basing stock and Investment on something so subjective like social justice, you have to force people to investing in companies and stock that probably are not doing that well
