Environmental, social and governance (ESG) investing has been touted as the mainstream investment style of the future—a more responsible but not less profitable future. The touting, however, went a bit too far, sparking an opposite and equal reaction, helped by the fact that ESG investing didn’t turn out to be as profitable as promised. ESG funds saw outflows for the first time in their history last year, and the trend extended into this year. This was hardly surprising given the performance of most ESG industries out there, meaning…
