I think the idea is that when using ESG, the return WILL be less than it otherwise would be. Simply by having reduced options. Then because malfeasance is covered up with platitudes. No longer do companies have to try to be profitable, they just have to check ESG boxes. Then money is auto-funneled from workers to bypass taxes and is forced to be invested in these future junk funds.

The idea that you can exclude companies from investment consideration and claim to represent investors is so scammy, its technically illegal in my opinion. Legally, they are supposed to chase profits. That's the only legal goal.

If you accept the basic premise that a shrunken pool of investment opportunities is exactly equal to lost opportunity and profit, then ESG is illegal and has to go.

I don't see the big deal. People can yell and scream all they want, ESG is an illegal and self defeating mechanism that screws everyone.