ESG Funds Outperformed the Mainstream Funds

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The biggest difference, you know, by orders of magnitude between the sort of ESG funds and the mainstream funds based on index was that the ESG funds selected for companies with like few or no employees. And a lot of cases helped ESG funds outperform right because obviously labor became a huge question and problem for companies during the pandemic. If you've got kind of no employees, much less strain there you know oil, and this kind of major price as they tended to move false fields away and invest more in tech.

Paris Marx is joined by Adrienne Buller to discuss how the tech and finance industries are selling us false solutions to the climate crisis that are designed for their own benefit.

Adrienne Buller is the Director of Research at Common Wealth and the author of The Value of a Whale: On the Illusions of Green Capitalism. Follow Adrienne on Twitter at @adribuller.

Tech Won’t Save Us offers a critical perspective on tech, its worldview, and wider society with the goal of inspiring people to demand better tech and a better world. Follow the podcast (@techwontsaveus) and host Paris Marx (@parismarx) on Twitter, and support the show on Patreon.

The podcast is produced by Eric Wickham and part of the Harbinger Media Network.

Also mentioned in this episode:

Adrienne originally wrote about the problem with the finance industry’s approach to climate change for Novara Media. She recently wrote about the failure of green capitalism for the Guardian and the power BlackRock wields for Jacobin.
Common Wealth recently produced a report on Asset Management Capitalism.
Elon Musk called ESG a scam after Tesla was booted from the S&P 500’s ESG fund.
Ulrich Brand and Markus Wissen wrote The Imperial Mode of Living: Everyday Life and the Ecological Crisis of Capitalism.

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