NY Times: Goldman Sachs Investigated Over ESG Funds

From the New York Times:  The Securities and Exchange Commission has stepped up scrutiny of sustainable investing, which has become popular but is said to lack accountability.

We’ve been hearing a great deal about this over the past few years. As more people wish to divest from investments that are ruining the environment and the fabric of our civilization, the designation “ESG” (companies that are committed to environmental, social and governance principles), carries an increasing amount of great appeal.

Unsurprisingly, investment giants are in a rush to market their products as ESG, even if that means sugar-coating or completely ignoring the actual practices of the companies in question.

In a positive light, it’s good to know that our government cares about this issue and shows signs of taking action.

Alternatively, what Goldman is being accused of is endemic to our financial world.  The world’s largest banks are still investing in huge oil and gas exploration projects all around the globe. The oceans and the Earth’s temperatures are rising, and we’re still pouring trillions of dollars into the very driver of our ruin.