ESG

“Anti-ESG sentiment is at the political level almost uniquely U.S. It's something that happens really only here. It's not nearly as big of a topic in Europe at a sort of polity level, or definitely not at like a local politics level”

“We do not identify as an ESG company, and I think I'll answer your question by maybe taking a step back and giving some definitions of how we see these terms.”

“The problem here, and this is a problem to ESG and why it was so vulnerable to this, is it was not well-defined.”

“So ESG was originally invented by institutional investors who wanted to be able to diversify across new classes of risk.”

“He mentioned ESG a lot in 2016, relatively, and then again in 2021, a little bit in 2022, but by 2023, ESG never shows up at all.”

“ESG is a set of issues, but it's not the same thing as a set of drivers. You know, they're issues to be aware of, screens and filters on making institutional investment, which is different than A, you know, an alpha case reasoned to invest capital in something…”