As it weathers critics' slings and barbs, some think ESG is due for a re-branding.
Retail investors are slowly starting to look under the hood of the $40 trillion ESG industry.
Asoka Woehrmann resigned hours after the asset manager's offices were raided by police.
Few corners of the financial universe have been surrounded by as much marketing froth as ESG.
Investments billed as socially conscious bought into a regime now accused of war crimes.
Funds purporting to be ESG-oriented are holding a lot of Russian assets.
Morningstar estimates that 14% of sustainable funds globally held Russian assets right before the war.
A forensic analysis of the industry resulted in the ESG tag being removed from more than 1,200 funds.
BNY Mellon's analysis shows the industry loses out by going mostly after men.
While trillions of dollars have moved into ESG funds, there is little evidence it is having any impact.
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