Liam Denning, Columnist

Today’s Dirty Utilities May Be Tomorrow’s ESG Winners

The aim is to find companies with big greening goals.

December 30, 2020 at 7:00 AM EST

Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column.

An ESG investment?
Photographer: Bloomberg/Bloomberg

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One way to think about the ESG thing is in religious terms: Proselytizers target heathens, not the saved.

Environmental, social and governance investing today enjoys more hype than clarity. There is no agreement on exactly what counts as a compliant investment, and there is often a lack of clear economic signals tied to ESG-favored outcomes (elusive carbon pricing is a prime example). Does it make sense to invest in a company that’s already ticked a lot of ESG boxes or one that could yet do so? And how to be rewarded?

Before it’s here, it’s on the Bloomberg Terminal

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