The Hypocrisy of ESG Investing | Tariq Fancy | Zer0es TV

In this episode, Carson Block sits down with Tariq Fancy, the former CIO of sustainable investing at Blackrock. As a big believer in capital markets, Tariq felt allocating capital to the problems of climate change could help solve one of the biggest problems on the planet. However, his experience in ESG was the opposite of solving problems. Tariq felt he was doing more harm than good and describes ESG efforts as giving wheatgrass to a cancer patient. This is one of the most candid disclosures of misaligned incentives and the moral righteousness of large corporations. Tariq captures the hypocrisy of ESG's virtue signaling and relates its public persona to that of the cigarette industry of the 1970s which externally boasted about caring about their customers while simultaneously killing them.

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[markter]

Interesting! Thanks for your perspectives !

[barrettl]

The worst thing for the environment is the disconnect between value and prices caused by the fiat hegemon.. govt is terrible at picking winners and losers but they keep trying.. to all of our misfortune

[ssunkite]

ESG investing could be tied to a political ideology as well. Interesting interview. Thanks for the upload.

[fandango]

Well, of course. Are people surprised?
Great interview.

[gazesalso]

I was at a dinner where a fellow dinner was involved in impact investing. She loved her job. I said to her I lost faith in csi, esg etc. when I was involved of in an evaluation of a DIFID funded project where Oxford was providing evidence based policy advice to Afghanistan after Afghanistan was invaded and bombed back to the stone age.

She was English. But I suppose people mean well. Or it soothes their conscience or something.

[geoffreymak]

Why is he pretending to be a capitalist?

[AmazingKevinWClark]

Carbon tax hasnt done any thing except raise prices and make it more difficult for the average citizen live. More economic friendly vehicles are more expensive and not everyone can afford to rush out and buy a new car that they need. The problem isn't being handled. With Covid it even got worse because there's been a spike in people buy new cars including gas powered ones.

[lamermisima]

No subtitles? I would appreciate it so much!

[stevehisey]

Sadly, even Michael Moore finally came to the same conclusion. Corporations owning government regulation soley to generate profiit is not just unhelpful, it is destructive. Fascist/Cronicapitalism is not capitalism.

[francisgitau]

Europe has tried on this front, they have actual regulations on ESG. The voluntary approach in the US is a good idea that doesnt

[mustavogaia]

I dont thing regulation is required to solve ESG hypocrisy. A cold hard look at ESG products shows that they are just a index product with higher fees. Ok, if we are talking regulations, why not a slap on the hand of analysts/funds promoting meaningless ESG products? It seems to be merely narrative. Most companies seemed to adopt ESG to "comply" with the same analysts/funds that promote ESG. The hypocrisy of ESG is evident once one look inside ESG funds/etfs - it essentially an index fund that exclude some oil/coal company that didnt add a rainbow flag to its twitter profile. If banks and FAANG are ESG, then anything is ESG.

[jessyjames]

Does the Fed care that JPM stole from investors by rigging the PM market? At least the ESG meme is creating jobs (at the SEC). Hell, I wasn't buying a Tesla any dadgum way. I AM confident Cathie Wood will create a new ETF based on carbon taxed corporations and make a shitload of BoyHowdy, she sure understands