"ESG paradox: tech companies dominate funds despite high energy use"

"If I pitched an ESG fund to you that was significantly overweight in companies whose energy use has grown by an average of 24 per cent a year, you would think I had lost the plot ... What if I offered an ESG fund holding companies that have cut their average energy consumption by a compound annual growth rate of more than 3 per cent and emissions by more than 4.3 per cent CAGR, during the past decade? Maybe you would want to learn more? Or perhaps you would show me the door when I revealed that they are Chevron, ExxonMobil, Petrobras, Shell and Equinor." SKAGEN Funds' head of ESG Sondre Myge is in Sustainable Views today calling out the inherent paradox of tech companies' outsized presence in ESG funds. Well worth a read: https://lnkd.in/eCPuAVsk

Sondre Myge

Head of ESG SKAGEN | Board Member, the IIMI

3d

Thanks for tagging! ESG narratives can get comfortable — sometimes it takes uncomfortable data to shake them awake. Always good to challenge our own priors.

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