In recent years, we have seen tremendous growth in ESG (environment, social, governance) and climate-themed financial products on global markets, with a fund offer that reached in 2020 a total value of $ 1.7 trillion. But explosive growth does not always match the consistent quality and transparency of products, as emerges from a research just published by InfluenceMap on 723 equity funds specifically marketed using keywords linked to the acronym ESG and climate, with over 330 billion dollars in net assets. total.
One of the problems is the relative lack of standards and regulations that currently regulate the commercialization of ESG and climate funds. Ebbene its 593 equity funds identified as ESG with over $ 265 billion in total net worth, 421 (71%) they have a negative score on alignment with the Paris goals, which indicates that companies in their portfolios are misaligned by global climate goals.
In the narrower category of climate funds, 72 his 130, with over $ 67 billion in total net worth, getiti from big names like BlackRock and State Street, not only sonor misaligned with the Paris objectives, but continue to hold $ 153 million in shares in fossil fuel value chain companies such as TotalEnergies, Halliburton, Chevron, and ExxonMobil.