Ethical investing is a pointless fad with 'no impact', says former BlackRock executive by Simon Foy
Appeared in The Telegraph on September 7, 2021
Gina's Thoughts
The author states that ESG investing does little to advance its purported goals. InvestNow agrees. However, we do not agree with the author's call for more government influence on capital markets to restrict investment "not in the public interest". ESG has been used to drive the fossil fuel divestment agenda for a decade, and while it has had no impact on demand, it has driven costs up, making our economy less competitive and doing nothing to help the environment. More political intervention will only make things worse - it will mean more regulation, more inefficiencies, and an even less attractive investment climate. We don't need government intervention, we need to invest in the industry that fuels every other industry on our exchanges. We need to invest in Canadian Oil and Gas.