Bullard: ESG acts as a negative screen, not an alpha-generating thesis
Nat Bullard · 2025 trends: aerosols, oil demand, and carbon removal · Jan 30, 2025 · at 26:09
Energy analyst Nat Bullard explains why ESG terminology fails as an active investment framework.
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“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.”
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