EQLT - Sounding Good Or Doing Good? A Skeptical Look At ESG

• Even if you overlook disagreements on ESG as growing pains, there is one more component that adds noise to the mix and that is the direction of causality.
• The power of the ESG sales pitch has always been that it offers something good to everyone involved.
• There is a plausible scenario, where being good creates a cycle of positive outcomes, which makes the company more valuable.
• In my view, the hype regarding ESG has vastly outrun the reality of both what it is, and what it can deliver, and the buzzwords are not helpful.

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