An air tanker drops retardant along a ridge during a fire in Lakehead, California on July 2. As extreme weather events mount, ESG investment is a very indirect and almost certainly ineffective way of funding climate action. Photo: AFP An air tanker drops retardant along a ridge during a fire in Lakehead, California on July 2. As extreme weather events mount, ESG investment is a very indirect and almost certainly ineffective way of funding climate action. Photo: AFP
An air tanker drops retardant along a ridge during a fire in Lakehead, California on July 2. As extreme weather events mount, ESG investment is a very indirect and almost certainly ineffective way of funding climate action. Photo: AFP
Anthony Rowley
Opinion

Opinion

Macroscope by Anthony Rowley

The real danger of the ESG investment boom is not a stock bubble

  • What really matters is not the ‘greenness’ of ESG stocks or green bonds but how these distract from the critical issue of countering climate disaster
  • A more officially coordinated and institutional approach is needed rather than corporate and financial sector ‘do-gooding’

An air tanker drops retardant along a ridge during a fire in Lakehead, California on July 2. As extreme weather events mount, ESG investment is a very indirect and almost certainly ineffective way of funding climate action. Photo: AFP An air tanker drops retardant along a ridge during a fire in Lakehead, California on July 2. As extreme weather events mount, ESG investment is a very indirect and almost certainly ineffective way of funding climate action. Photo: AFP
An air tanker drops retardant along a ridge during a fire in Lakehead, California on July 2. As extreme weather events mount, ESG investment is a very indirect and almost certainly ineffective way of funding climate action. Photo: AFP
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Anthony Rowley

Anthony Rowley

Anthony Rowley is a veteran journalist specialising in Asian economic and financial affairs. He was formerly Business Editor and International Finance Editor of the Hong Kong-based Far Eastern Economic Review and worked earlier on The Times newspaper in London