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Market watchdog SEBI has come out with a consultation paper in a bid to ease the functioning of <keyword id="22476006" type="General" weightage="100" keywordseo="ESG-Rating-Providers" source="keywords">ESG Rating Providers</keyword> (ERPs), pushing for the development of a <keyword id="23760035" type="General" weightage="20" keywordseo="subscriber-pays-model" source="keywords">subscriber-pays model</keyword>. As of July 2024, nine ERPs are registered with SEBI to operate in the country. These include <keyword id="23760037" type="General" weightage="20" keywordseo="CRISIL-ESG-Ratings" source="keywords">CRISIL ESG Ratings</keyword> &amp; Analytics, ESG Risk Assessments and Ratings, GlobeTrend Climate Impact Institutional Investor Advisory Services, <keyword id="23760038" type="General" weightage="20" keywordseo="NSE-Sustainability-Ratings" source="keywords">NSE Sustainability Ratings</keyword> and Analytics, PGS Impact, Pragati Development Consulting, CARE ESG Ratings, and SES ESG Research. Per the paper's proposal, ERPs won't be required to disclose ESG (environmental, social, and governance) ratings to the bourses, provided they confirm that there is no non-public information that could potentially affect the rating. Another proposal was the simultaneous sharing of the ESG rating reports both to the rated companies and to the subscribers who pay to access these reports. ERPs should ensure that rated entities, their group companies, or associates cannot subscribe to their own ESG ratings, SEBI said in its consultation paper. Some of the other suggestions put forth by SEBI include: 1. Companies will have a specific timeframe to respond to the ESG report, and any such comments should be included in the report as an addendum. 2. In case the ERP does not agree with the remarks issued by the rated company, they can add their comments to the report as well. 3. ERPs can rate unlisted issuers or other products, provided they meet specific guidelines from relevant regulators. SEBI is receiving public comment on these proposals until November 15, 2024. <h2>Steady returns </h2>Of the 11 ESG mutual fund schemes available to Indian mutual fund investors, the Quant ESG Equity fund has generated the highest returns of about 45.44% over one year, data from ValueResearch showed. Simply put, had you invested Rs 10,000 every month in this fund for three years, you would have accumulated a corpus of Rs 5,47,525. Over three years, the returns on this fund come to around 26%. This was followed by the ICICI Pru ESG Exclusionary Strategy fund, which yielded 44.73% returns over the same period. However, over ultra-short terms, i.e., 1-3 months, ESG funds have largely delivered negative returns, underscoring their suitability only as a long-term investment avenue. Only the SBI ESG Exclusionary Strategy Direct Fund and Quantum ESG Best In Class Strategy Direct Fund have been around for 5 years, during which they have generated returns of about 16.67% and 18.7%, respectively. <keyword id="23760036" type="General" weightage="20" keywordseo="ESG-mutual-funds" source="keywords">ESG mutual funds</keyword> typically select and invest in companies that are ESG-compliant, i.e., who weave in environmental conversation, social welfare, and robust <keyword id="20392393" type="General" weightage="20" keywordseo="corporate-governance" source="keywords">corporate governance</keyword> practices into their working philosophy and work ethos, while simultaneously generating decent financial returns for stakeholders as well.

SEBI mulls measures to facilitate ease of doing business for ESG Rating Providers (ERPs)

<ul class="summary-list"><li>Donald Trump Jr. will not take on a White House role, opting instead for the VC firm 1789 Capital.</li><li>The firm, co-founded by Omeed Malik, funds conservative causes like Tucker Carlson's media venture.</li></ul>The venture capital firm that Donald Trump Jr. is reportedly joining eschews investments that push social and environmental issues and instead focuses on what it calls "EIG," or entrepreneurship, innovation, and growth.The Palm Beach, Florida-based firm, called 1789 Capital — the US constitution went into effect that year — has invested in Tucker Carlson's new conservative media venture, Substack, and BlinkRx, a prescription startup.The president-elect's eldest son — who had an <a target="_blank" class="" href="https://www.businessinsider.com/trump-family-then-and-now-photos-2024-11">active role in Donald Trump's presidential campaign</a> and is now on his transition team — told a group of supporters at a conference earlier this week that he would be joining 1789 as a partner, <a target="_blank" class="" href="https://www.nytimes.com/2024/11/11/us/donald-trump-jr-firm.html">The New York Times first reported</a>. Several people with knowledge of the matter also told <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-11-12/don-trump-jr-opts-out-of-white-house-to-join-1789-capital?cmpid=BBD111224_MKTDLY&amp;utm_medium=email&amp;utm_source=newsletter&amp;utm_term=241112&amp;utm_campaign=marketsdaily&amp;embedded-checkout=true">Bloomberg</a> of Trump Jr.'s plans.The firm was co-founded in 2022 by Omeed Malik — a former Bank of America executive who also founded boutique investment bank Farvahar Partners — alongside author and investor Christopher Buskirk.Malik, who once <a target="_blank" class="" href="https://www.businessinsider.com/trump-guilty-verdict-donors-backing-conviction-2024-5">co-hosted a Trump fundraiser that raised more than $10 million</a>, serves as the firm's president and Buskirk as its chief investment officer, according to its website. Both Buskirk and <a target="_blank" class="" href="https://www.businessinsider.com/wall-street-political-contributions-by-name-for-trump-vs-harris-2024-8#omeed-malik-10">Malik donated to Trump's</a> 2024 presidential campaign, the Republican National Committee, as well as to other conservative causes and candidates, according to political donation <a target="_blank" class="" href="https://www.opensecrets.org/donor-lookup/results?name=omeed+malik&amp;order=desc&amp;sort=D">records</a>.The firm <a target="_blank" class="" href="https://www.1789capital.io/">bills itself</a> as "anti-ESG" — an acronym for companies that say they commit to certain environmental, social justice, and corporate governance-focused principles. One of 1789's areas of interest is in companies or industries that have faced negative effects of ESG, its website says. It also focuses on what it calls deglobalization, building out an economy that is parallel to the traditional one, and disrupting industries it deems weighed down by excessive bureaucracy. Like 1789 Capital, Trump Jr. has long been a proponent of the parallel economy, also called the "patriot economy," a term used by MAGA conservatives to refer to businesses that align with their traditional values.And Trump Jr.'s connection to Malik, the president of 1789 Capital, includes the pair's mutual support of a parallel economy platform called PublicSquare.Both <a target="_blank" class="" href="https://time.com/6317479/bud-light-boycott-maga-economy-donald-trump-jr/">Malik</a> and <a target="_blank" class="" href="https://www.msnbc.com/opinion/msnbc-opinion/maga-amazon-alternative-publicsquare-rcna127418">Trump Jr.</a> have been investors in and <a target="_blank" class="" href="https://www.publicsquare.com/events/town-hall">vocal supporters</a> of PublicSquare, an online shopping marketplace similar to Amazon that <a target="_blank" class="" href="https://investors.publicsq.com/overview/default.aspx#:~:text=Corporate%20Overview,both%20consumers%20and%20business%20owners.">bills itself as a place to connect</a> Americans to "businesses that value life, family, and freedom." In order to use the platform, businesses have to commit to <a target="_blank" class="" href="https://support.publicsquare.com/en/articles/6746843-what-values-do-the-businesses-on-publicsquare-have-to-share">PublicSquare's core values</a>, which include the "sanctity of every life," "the family unit," "freedom and truth," and adherence to the US Constitution.Malik and Trump Jr. together rang the New York Stock Exchange's ceremonial opening bell on the day the company went public in 2023, <a target="_blank" class="" href="https://time.com/6317479/bud-light-boycott-maga-economy-donald-trump-jr/">Time Magazine reported</a> at the time. Malik didn't return a request for comment from BI.As for 1789 Capital's own investments, the firm has contributed $15 million to the Tucker Carlson Network, the conservative commentator and former <a target="_blank" class="" href="https://www.businessinsider.com/tucker-carlson-raise-millions-new-media-company-neil-patel-report-2023-7">Fox News host's new media venture</a>, according to VC database PitchBook.On its website, the firm doesn't tout its specific investments but does offer a broad list of industries it's interested in, including consumer, fintech, healthcare, B2B SaaS, tech-enabled services, software, infrastructure, energy, and special situations.Representatives for Trump Jr. through the Trump Organization and the Trump transition team didn't respond to a request for comment from BI. Buskirk also didn't respond to requests for comment from BI, nor did the company's chief operating officer, Jordan Cohen.

This is the anti-ESG venture capital firm that Donald Trump Jr. is joining instead of taking a White House role

ESG Investment Returns

Markets regulator <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords">SEBI</keyword> has proposed expanding the <keyword id="22367248" type="General" weightage="20" keywordseo="sustainable-finance-framework" source="keywords">sustainable finance framework</keyword> in the <keyword id="20922662" type="General" weightage="20" keywordseo="securities-market" source="keywords">securities market</keyword> by introducing a new category of financial instruments. This category will include <keyword id="20518791" type="General" weightage="20" keywordseo="Social-Bonds" source="keywords">social bonds</keyword>, <keyword id="22623575" type="General" weightage="20" keywordseo="Sustainable-Bonds" source="keywords">sustainable bonds</keyword>, and <keyword id="22623576" type="General" weightage="20" keywordseo="Sustainability-linked-Bonds" source="keywords">sustainability-linked bonds</keyword>, in addition to the current <keyword id="22819966" type="General" weightage="20" keywordseo="green-debt-securities" source="keywords">green debt securities</keyword>. It aims to provide issuers with flexibility in raising funds for projects that align with environmental, social, and governance (ESG) objectives. In a consultation paper released on Friday, SEBI proposed that issuers, in addition to existing green debt securities, should be allowed to raise funds through issuance of social bonds, sustainable bonds, and sustainability-linked bonds. These bonds will collectively be known as ESG Debt Securities. This will enable issuers to raise money for more sustainable projects, assisting in closing the funding gap for the Sustainable Development Goals. SEBI said it received representations from market participants including the Confederation of Indian Industry to expand the scope of the regulatory framework pertaining to sustainable finance to include social bonds, in addition to existing green debt securities as a mode of raising sustainable finance, in line with global practices. As per the consultation paper, SEBI said, it "proposed to introduce the concept of sustainable securitised debt instruments for the purpose of providing originators of the underlying credit facilities which are within such international or domestic frameworks for sustainable finance, and thereby provide investors as well an opportunity to participate in the sustainable securitised debt instruments". The consultation paper also addressed the initial and continuous disclosures for sustainable securitised debt instruments that would be based on international frameworks. Initial disclosures could be made in the offer document for the securities, while continuous disclosures might be included in annual reports or other mandated formats. The markets watchdog also suggested that issuers of ESG debt securities and sustainable securitised debt instruments appoint an independent external reviewer or certifier, to facilitate transparency and credibility. The review could take various forms including, second-party opinions, verification, certification, or scoring/ rating. The <keyword id="19901204" type="General" weightage="100" keywordseo="Securities-and-Exchange-Board-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Securities and Exchange Board of India" meta.hostid="261" meta.entityid="Securities and Exchange Board of India">Securities and Exchange Board of India</keyword> (SEBI) has invited comments and suggestions from the public on the consultation paper by September 6.

SEBI proposes expansion of sustainable financial framework in securities market

The Union Budget for 2024-25, presented by Finance Minister Nirmala Sitharaman, places significant emphasis on <keyword id="19941381" type="General" weightage="20" keywordseo="energy-security" source="keywords">energy security</keyword> and sustainability. As per the government, the current strategy will focus on ensuring that energy resources are readily available, making energy affordable for all citizens and keeping energy costs low to prevent economic strain on consumers. Here's a breakdown of the key initiatives announced: <h2>PM Surya Ghar Muft Bijli Yojana</h2>One of the standout initiatives is the PM Surya Ghar Muft Bijli Yojana. This program aims to install <keyword id="20366573" type="General" weightage="20" keywordseo="rooftop-solar-plants" source="keywords">rooftop solar plants</keyword> across 1 crore households, providing up to 300 units of free electricity per month. As per the FM, the scheme has already seen significant interest, with over 1.28 crore registrations and 14 lakh applications. <h2>Pumped Storage Policy</h2>To enhance electricity storage capabilities and integrate more <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> into the grid, the government will introduce a policy promoting pumped storage projects. These projects are crucial for balancing the intermittent nature of renewable energy sources like wind and solar power. <div type="Article" hostid="261" msid="111956035" title="Union Budget 2024: What FM Nirmala took from your pocket, what she gave you" mstype="2" mssubtype="0"></div> <h2>Development of <keyword id="20876045" type="General" weightage="20" keywordseo="nuclear-energy" source="keywords">Nuclear Energy</keyword></h2>Recognising the importance of nuclear energy in India's future energy mix, the government plans to invest in new nuclear technologies. The announcement also mentioned partnering with the private sector to develop and set up Bharat <keyword id="20260886" type="General" weightage="20" keywordseo="Small-Modular-Reactors" source="keywords">Small Modular Reactors</keyword>. Boasting up to a 300 MW capacity, Small Modular Reactors are mobile, flexible in design and require a smaller footprint. Unlike conventional nuclear reactors that need to be built on-site, SMRs can be factory-built. These advantages can add up to significant savings in cost and construction time. <h2>Advanced Ultra Super Critical Thermal Power Plants</h2>The Budget highlights the completion of indigenous technology development for Advanced Ultra Super Critical (AUSC) thermal power plants. These plants boast higher efficiency and will be established through a joint venture between the National Thermal Power Corporation and Bharat Heavy Electricals Limited. The initiative includes government support for fiscal needs and aims to boost local production of high-grade steel and advanced metallurgical materials. <h2>Roadmap for Hard-to-Abate Industries</h2>A significant shift is planned for industries that are difficult to decarbonise. The government will move these industries from energy efficiency targets to emission reduction targets. This transition will be regulated through the Indian Carbon Market, replacing the current 'Perform, Achieve and Trade' mode. <h2>Support for Traditional Micro and Small Industries</h2>To promote cleaner energy usage and efficiency, the government will conduct energy audits in 60 clusters of traditional micro and small industries, including brass and ceramics. Financial support will be provided to help these industries switch to cleaner energy forms and implement energy efficiency measures. This initiative will be expanded to 100 more clusters in the next phase. As per Sameer Jain, Managing Director at Primus Partners, MSMEs consume approximately 50% of the nation's power needs while generating over 75% of greenhouse gas emissions. As a result, additional support — such as climate financing — will be crucial to ensure that the MSME sector adapts well to the green revolution, especially with how the budget has committed support to MSMEs to grow and compete globally. <div type="Article" hostid="261" msid="111953230" title="Union Budget 2024-25: Mobile Phones to get cheaper, as FM Nirmala Sitharaman reduces basic customs duty to 15%" mstype="2" mssubtype="0"></div> <h2><keyword id="22521154" type="General" weightage="20" keywordseo="climate-resilient-crops" source="keywords">Climate-Resilient Crops</keyword></h2>The government will release 109 high-yielding and climate-resilient varieties of 32 field and horticultural crops for cultivation by farmers. With the provision of research funding, including for the private sector, this move is part of a broader strategy to enhance agricultural productivity while adapting to climate change. <div type="Article" hostid="261" msid="111957080" title="What does Union Budget 2024-2025 have in store for farmers and the agricultural sector?" mstype="2" mssubtype="0"></div> <h2>Minerals for Green Technologies</h2>To support the growing demand for minerals used in green technologies, such as cobalt and lithium, the budget proposes exemptions from custom duties for 25 critical minerals and reduction on basic customs duty for two other essential metals. This move aims to bolster the domestic manufacturing of batteries and other components crucial for electric vehicles and renewable energy technologies. <h2>Development of Climate Taxonomy</h2>A new climate taxonomy will be developed to guide the green transition, ensuring that investments and policies are aligned with the goal of reducing carbon emissions and promoting sustainable practices. All in all, the Union Budget 2024-25 sets a promising course for India's energy and sustainability sector. With substantial investments and new initiatives, it aims to accelerate the transition to a greener future, and hopefully take us a step further towards India's net-zero emissions target by 2070.

Free solar electricity to mobile nuclear plants — major sustainability initiatives announced in Budget 2024!

ESG Investing and Social Impact

<ul class="summary-list"><li>Michael Burry tweeted about the collapse of Silicon Valley Bank again. </li><li>This time the 'Big Short' investor took aim at ESG fund managers exposed to the fallen bank.</li></ul>Michael Burry delivered a critique of ESG fund managers caught up in collapse of Silicon Valley Bank (SVB) on Twitter Tuesday. "My hope is that the human race will reverse direction, away from impatient, lazy shortcuts always and everywhere," Burry said in a now-deleted <a href="https://twitter.com/BurryArchive/status/1635701574285815808?s=20" target="_blank" rel="noopener">tweet</a> on Tuesday, attaching a screenshot of a <a href="https://www.bloomberg.com/news/articles/2023-03-14/svb-exposes-lazy-esg-funds-as-hundreds-bought-into-doomed-bank?sref=ZTdRrSmf" target="_blank" rel="noopener">Bloomberg article</a> on ESG funds taking losses from exposure to the fallen bank.ESG investors were drawn to SVB over its lending to renewable energy companies, but many may have overlooked governance risks at the firm. Hundreds of funds registered as either declaring ESG as their "objective" or "promoting" it were exposed, per Bloomberg.Burry, the legendary investor famous for betting against the US housing market in the run-up to the 2008 financial crisis, is known for his bearish forecasts on the markets and the economy.The tweet comes a day after Burry dismissed concerns of financial turmoil from SVB as well, adding that the fiasco will "resolve very quickly.""I'm not seeing true danger here," Burry said in another deleted <a href="https://markets.businessinsider.com/news/stocks/big-short-michael-burry-svb-bank-crisis-market-outlook-tweet-2023-3?_gl=1*18zbz56*_ga*MTczODk2OTA2Ny4xNjU0ODcwMTA2*_ga_E21CV80ZCZ*MTY3ODg4NjE2Ny4zMjIuMS4xNjc4ODg2MTcwLjU3LjAuMA.." target="_blank" rel="noopener">tweet</a> on Monday.

'Big Short' investor Michael Burry calls out ESG funds that bet on Silicon Valley Bank: 'impatient, lazy shortcuts'

For its critics, ESG might as well be a four-letter word.It represents woke capitalism. It propels a for-profit nanny state. Yet for all the <a target="_blank" href="https://www.businessinsider.com/conservative-politicians-esg-sustainable-investing-2022-6">political haymaking over environmental, social, and governance efforts</a> — such as Republicans throughout the country pushing anti-ESG legislation and threatening to pull state investments from companies that follow ESG principles — few companies seem to be walking away from their efforts entirely.Many appear to be talking less about their ESG initiatives, though. And job cuts could imperil <a target="_blank" href="https://news.bloomberglaw.com/daily-labor-report/corporate-diversity-pledges-fizzle-amid-layoffs-gop-backlash">progress on diversifying workplaces</a> — pledges that some <a target="_blank" href="https://www.businessinsider.com/layoffs-diversity-departments-some-ceos-talk-committed-racial-justice-2023-2">skeptics saw as performative gestures</a> following the murder of George Floyd in 2020.Despite challenges, much of the work continues because many companies across industries see it as good for business, ESG experts told Business Insider. In particular, they said, it's important for attracting and keeping younger workers."The work is quietly going on," R. Mukund, the CEO of Benchmark Gensuite, which makes software for ESG reporting, told BI.In fashion, Eileen Fisher is pushing the label she started nearly 40 years ago to reduce its environmental impact by using fewer materials. The company takes back old clothes to be upcycled. Fisher has even called for consumers to buy fewer clothes. She told BI she hopes education can help shoppers realize they don't need as many pieces as they might think. Fisher said the company's environmental efforts had helped attract workers.At the financial giant JPMorgan Chase, Vince Toye leads two divisions focused on affordable housing. In 2022, the bank financed $12 billion in deals to make it easier for people to obtain housing. Toye told BI he's also working on efforts to help renters who make too much to get government help but earn too little to afford market-rate rents.The work at Eileen Fisher and JPMorgan indicates ESG work is ongoing even as some businesses talk about it less often than they once did. Companies generally have been <a target="_blank" href="https://insight.factset.com/lowest-number-of-sp-500-companies-citing-esg-on-earnings-calls-since-q2-2020#:~:text=Since%20peaking%20at%20156%20in,Q1%202023%20decreased%20by%2023%25.">quieter about their ESG work</a> on quarterly earnings calls; data compiled by FactSet suggests the chatter about ESG peaked with fourth-quarter results in 2021.Mukund said many organizations have too much invested in their ESG programs and believe they'll help pull in workers and customers."You can't simply wish it away," he said. "No demagoguing is going to make it go away."But, broadly, does anyone care? ESG doesn't necessarily draw widespread attention. In a <a target="_blank" href="https://news.gallup.com/poll/506171/esg-not-making-waves-american-public.aspx">Gallup poll conducted in April</a>, only 37% of Americans reported being "very familiar" or "somewhat familiar" with the practice of using ESG principles to guide purchasing or investing decisions. The share who said the same in 2021 was 36%.Christine Spadafor, a visiting executive at the Tuck School of Business at Dartmouth, said part of the reason ESG work will stick around is that many organizations think it's good for drawing in younger workers, especially Gen Zers.Gen Zers are much more "decisive and discerning" than older generations about where they want to work, Spadafor said. "It's not just getting the job, but it's getting the job in the right place where the values of the company are consistent with their values," she added.Spadafor said that according to her research, many Gen Zers are choosing to apply to employers only after digging into an organization's stances on environmental sustainability and social issues. "They will look at the diversity in the workplace, and they will decide to apply accordingly," she said. "This generation is doing it more than previous generations."I know when I was looking for jobs, I wasn't looking for that. I was thinking, here's my skill set, you know, where do I want to work?" she said. "That's not the calculus that the younger job applicants are using."Spadafor said a focus on the social part of ESG can help companies improve their cultures and hang on to these workers during an "ongoing war for talent."Mukund said the low unemployment rate in the US and the pressures from inflation — like higher wages — that make going out to find workers difficult can push companies to look for ways to incorporate ESG ideas and diversify their workforces. He said it's causing leaders to say, "We need to implement these programs not for the sake of delivering a metric but because it's critical to business."At her fashion label, Fisher and her team set a goal of making the company's environmental footprint as small as possible."There was this moment where I realized that I had to actually say, 'We really want to be a 100% sustainable company,'" she said. But because she knew that wasn't possible, she hesitated, even as her staff grew more excited. "They were all saying, 'Let's do it. Let's make it the goal,'" she said. Fisher, 73, said she pushed aside her initial doubts and agreed they had to try.The company has taken steps to simplify its operations and mimic the simple designs of the clothing line Fisher started in 1984. Five years ago the brand was using 1,000 types of fabric; now that's down to 200, Fisher said. They're the ones the designers love, she said, and that are most sustainable.Fisher also wants her customers to buy fewer clothes. It's a view Fisher shares with her company's CEO, Lisa Williams, whom Fisher brought on in 2022 from Patagonia.Fisher acknowledged the position is tough for a leader of a fashion label to maintain. "I look at the sales every week," she said. "I want to know how are these products being received — what are they liking."Fisher said that buying less might mean helping customers understand the dozen foundational pieces of the season or the year and helping them find ways to mix and match garments.The company still has a long way to go, Fisher said, adding that she and her team feel compelled to do what they can. One focus is on moving from organic cotton and wool to versions of those fabrics produced through regenerative agriculture, a set of practices designed to boost soil health.JPMorgan's Toye, who's Black, knows how difficult it can be to obtain adequate housing. He grew up in a small town in Virginia that was essentially segregated. Toye and his six siblings lived in rentals until his mother was able to purchase a house in the "white" part of town.A big part of Toye's work now is focusing on so-called workforce housing. It's aimed at middle-income workers — the teachers, municipal workers, nurses, retail clerks, and others who have essential but not necessarily high-paying jobs. Often it's easier to bankroll market-rate rentals or low-income affordable housing than this middle layer, according to Toye.In 2022, Toye started JPMorgan's first capital-solutions business focused on workforce housing. He said more employers, recognizing the severity of the housing crunch in the US, are looking for ways to help house their workers because insufficient housing — and punishing commutes — can damage morale, hurt productivity, and increase turnover.Companies that opt to pump money into middle-income housing can get a first crack at reserving some of the units for their workers. Employers might also be able to negotiate a master lease for some units and then rent them to their workers, Toye said.For developers, this can help get deals funded and across the finish line. In addition to funding from employers, building a workforce housing unit might require a bank loan, local tax credits, abatements, land grants, and money from the developer. Toye said this is where JPMorgan Chase's connections can come in handy, allowing him to work with professionals across the bank to find a fix."There's no road map, and every deal's different," he said.Companies' ESG efforts might draw less publicity today, though they aren't likely to slow that much, Spadafor said. "It's unfortunate that the <a target="_blank" href="https://www.businessinsider.com/private-equity-fossil-fuel-divestment-dilemma-blackstone-carlyle-kkr-2023-4">political piece</a> has come into this," she said. Companies that are doing more around climate, for example, aren't likely to stop, Spadafor said. "They've got investors who are now paying more attention," she said. "They've got employees who want it, and they've got other stakeholders."Mukund said companies that have already set up reporting structures to gather information on ESG data are unlikely to stop, especially as some jurisdictions like the European Union will require reporting on some metrics. Already, there's growing interest in the so-called <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://www.integratedreporting.org/news/the-growing-momentum-for-integrated-reporting-part-1/">"integrated reporting" framework</a>, which pulls together data on a company's strategy, governance, and performance."The grooves are laid," he said. "What you could do is to stop looking at it or hearing about it or doing the things to improve upon your numbers, but the numbers are going to be there."Mukund said that working on ESG measures is in most companies' best interest because many, like his own company, continue to have trouble filling all their open roles. "We all have workforce pressures," he said. "Knowledge workers — they have a lot of choices."

ESG backlash dominated headlines in 2023, but it's still 'quietly' reshaping industries behind the scenes

<ul class="summary-list"><li>Experts share how ESG investors can understand and grow with emerging opportunities.</li><li>Environmental and Social Governance (ESG) investing is adapting to consumer behavior.</li><li>The conversation was part of Insider's event "Finance Meets Its Future," which took place on Thursday, March 23, 2023.</li></ul>ESG gives investors an opportunity to invest in companies with initiatives, missions, and goals that align with their values. However, <a href="https://www.businessinsider.com/sustainable-investing-esg-under-scrutiny-2022-7?r=US&amp;IR=T">ESG investing has recently come under review</a> for greenwashing or other hidden tradeoffs. Leaders in the field are working to better define and understand what ESG investing is and the good it can do for companies and beyond. Aniket Shah, global head of ESG and sustainable finance at Jefferies Group LLC, explained that at the moment, "We're trying to figure out what the climate topic's all about, and there's more energy, enthusiasm, excitement and questions around it than ever before." "Investors that we speak to get it, climate change and how policy makers are reacting to climate, how business leaders are reacting to climate, how technology is reacting to climate, is impacting asset prices," Shah said during Insider's virtual event, presented by Amberdata, "Finance Meets Its Future," which took place on Thursday, March 23rd.During the session "Navigating ESG Investing Challenges" Rebecca Ungarino, senior finance reporter, spoke with Shah and Nikita Singhal, coHead of sustainable investment and ESG at Lazard Asset Management. While expressing values through investing is not a new practice, Singhal deems that there needs to be a "healthy detangling" of what constitutes ESG versus virtue-based investing.Singhal said, "I define ESG as discovering and pricing, environmental, social governance risks and opportunities. And in that iteration, therefore, it is still very nascent. It's not something that has been around for decades."Singhal touches on how ESG is not one-size-fits-all solution for companies. The issues, values, and environments vary from sector to sector. She said, "The financial materiality of ESG is very contextual. And what I would argue today is to be able to do that well, you can't approach it in that monolithic way where you have 10 ESG metrics that you look across an entire portfolio, and call certain companies good or bad."Shah expresses how the variation and newness of ESG are what makes it exciting. The one component that he believes is cross-cutting is the 'G' for governance. Shah said, "The G of ESG, which oftentimes gets forgotten, is a cross-cutting topic because it's ultimately a question of, how are decisions made, and who controls a company?" He maintains that governance is the cross-cutting topic that any good CEO, investment banker, or investor would think through. The things investors should know about are changing and shifting based on consumer tastes and preferences. Singhal explained that consumers are, "voting with their wallets in terms of things that they care about." She continued, "From what their packaging should be like, that may not impact the valuation of a Coca-Cola or a large CPG company, but it certainly, we are starting to see it impact the valuations of packaging companies down the supply chain." When it comes to what Shah and Singhal are most excited about in the evolving ESG space Shah is motivated by carbon removal programs. Shah said, "There are technological breakthroughs happening every day in direct air capture and nature-based solutions and so on, that are coming to life because of technology and policy."Singhal concluded that she is looking forward to broadly flushing out what ESG is and gaining clarity. She said, "It's not there trying to prove that we can save the world. And it's not something that's projecting an individual's personal values or biases. It's just making us disciplined investors."

The future of ESG is expanding. Here’s how 2 experts define ESG investing and why it matters

<ul><li><keyword id="472014" type="General" weightage="20" keywordseo="green-jobs" source="Orion">Green jobs</keyword> or jobs in the ESG space, can be found in a wide range of industries, from renewable energy, and clean technology, to sustainable agriculture, and waste management. </li><li>March 2023 saw approximately 19,379 active job postings for ESG roles. </li><li>December 2022, and January 2023 saw the highest number of such jobs closed in India. </li><li>Organizations are looking for applicants with qualifications in energy, social environment, sustainable business management and environmental studies. </li></ul>The Future of Jobs Report 2023, by the World Economic Forum, did strike a warning note saying that 26 million jobs will be wiped out globally by 2027. However, a macrotrend listed in the report deserves attention. According to the report, businesses expect that the greatest net job creation impact will come from investments that support the green transformation of businesses, the wider adoption of ESG standards, and the localization of supply chains. While this is a broader trend that will change the future job landscape as much as AI will, now is perhaps the best time ever to build a career in ESG. “ESG as an industry or segment is growing and in India while we are late at it, I think in India the main reason for ESG growth is largely because you now have the government initiatives and the target of being net zero by 2070,” says says Munira Loliwala, business head, TeamLease Digital, a tech staffing solutions firm. Growth in <keyword id="14096025" type="General" weightage="20" keywordseo="esg-jobs" source="Orion">ESG jobs</keyword> ESG jobs are employment opportunities centered around Environmental, Social, and Governance (ESG) factors. These roles involve responsibilities related to sustainable business practices, impact investing, corporate social responsibility, environmental preservation, social justice, diversity and inclusion, ethical governance, and related areas. According to TeamLease Digital, between 2021 and 2022, <keyword id="17432479" type="General" weightage="20" keywordseo="esg-hiring" source="Orion">ESG hiring</keyword> and new demands grew almost by more than 147%, as compared to 2020-2021, wherein the post Covid year marked almost 85% of growth in hiring by organizations in India. March 2023 saw approximately 19,379 of active job postings for ESG roles, while December 2022, and January 2023 saw the highest number of jobs closed. The average number of ESG jobs posted stood at 12,400 between December 2022, and March 2023, while the average number of closed positions were 14,136. The average number of active ESG related jobs were 24,000. Organizations embracing ESG “ESG plays an important role if India has to attract global investments. ESG increases the chances of investments or chances of the acquisitions that most of the Indian companies today are looking at,” says Loliwala. Both big and small corporations in India have embraced ESG. Reliance Industries, for example, has integrated ESG into their business models. Led by their chief financial officer, their ESG team is a multi-disciplinary group responsible for all of Reliance’s environmental sustainability, stakeholder engagement and regulatory compliance activities. In order to enhance their commitment to ESG principles, HDFC Bank has formed an ESG committee. This committee consists of senior members from key departments within the bank and is chaired by a member of the senior management team. The ESG committee is responsible for developing and implementing the bank's ESG strategy, as well as establishing a roadmap to achieve the set targets. They report to the Corporate Social Responsibility (CSR) committee of the Board of Directors, providing updates on the bank's ESG strategy and progress. kindlife, a beauty and wellness platform which launched in 2020, has a strong ESG focus. “Our ESG goals are only achievable with a strong team who works tirelessly to bring our vision to life. We work closely with internationally renowned advisors armed with over 20 years of experience. We’ve worked closely with the World Bank and government bodies in the sustainability and clean energy space,” says Radhika Ghai, founder and CEO, kindlife. They have a team of two consultants who are guiding them with assessing their impact across various parameters and projects. They are also gearing towards their next critical goal of 100% carbon neutrality and a sustainable score for brands and products for which they are working closely with Sishir Garemella, a clean energy and climate technology expert. Talent in demand ESG jobs do not necessarily require skills in the sustainability domain. “Green jobs or jobs in the ESG space, can be found in a wide range of industries, from renewable energy and clean technology to sustainable agriculture and waste management. There are three categories of green jobs based on their degree of dependence on green skills,” says Manu Saigal, director, general staffing, Adecco India. Jobs that require green skills: These are jobs that cannot be performed without specialized knowledge of environmental sustainability. Examples include renewable energy technicians, environmental engineers, and sustainability consultants. Jobs with significant potential to create and hone green skills: “These are jobs that are not necessarily focused on environmental sustainability but have the potential to develop green skills,” says Saigal. Examples include architects and construction workers who build energy-efficient buildings and farmers who use sustainable agriculture practices. Jobs that do not require green skills: “These are jobs that are not specifically related to environmental sustainability but may contribute to sustainability indirectly,” says Saigal. Examples include accountants who work for green businesses and marketing professionals who promote environmentally friendly products. The crucial aspect of ESG is now focused on proper data analysis, collection, reporting, investigation, and filing. The typical structure involves using various frameworks to collect and analyze data, which requires hiring individuals at entry-level and mid-level positions with backgrounds in computer science, mathematics, or engineering. ESG data is considered a type of alternative data that can be utilized in the analysis of companies. As a result, investors and hedge funds are utilizing it to identify investment opportunities with lower risk by assessing a company's favourable environmental and ethical factors. Organizations are also looking to appoint applicants who have qualifications in energy, social environment, sustainable business management and environmental studies, wind and solar energies. And one important subject could also be economics and law. A lot of certification courses are available in this space today. There are courses on sustainability accounting, reporting and sustainable investing. <keyword id="17432478" type="General" weightage="20" keywordseo="esg-job-roles" source="Orion">ESG job roles</keyword> Below are some of the most common ESG job roles, responsibilities and expected salaries. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Job role </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Responsibilities </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Educational requirement </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Average starting salary (₹ lakh/annum) </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">ESG Analyst </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Responsible for evaluating the ESG performance of companies and making investment decisions </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bachelor's or master's degree in finance, economics, environmental science, or a related field </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6-12 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sustainability Manager </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Develop and implement sustainable business practices, manage environmental impact, and ensure compliance with ESG standards </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bachelor's or master's degree in environmental science, engineering, sustainability, or a related field. </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7-18 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">CSR Manager </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Responsible for developing and implementing CSR strategies, managing community engagement, and ensuring compliance with ESG standards </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Master's degree in business administration, sustainability, social work, or a related field. </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7-15 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">ESG Consultant </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Provide advisory services to companies on ESG issues, including strategy development, risk assessment, and performance evaluation. </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bachelor's or master's degree in business administration, finance, environmental science, or a related field </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5-18 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Green Building Consultant </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Provide guidance and support for the design and construction of sustainable buildings, ensuring compliance with ESG standards </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bachelor's or master's degree in architecture, engineering, sustainability, or a related field </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4-10 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Responsible for developing and implementing agricultural practices that optimize crop yields and ensure sustainable farming </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bachelor's or master's degree in agronomy, agriculture, soil science, or a related field. </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4-10 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Precision Agriculture Specialist </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Use technology to optimize crop production by analyzing data on soil, weather, and plant health. </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bachelor's or master's degree in agriculture, agronomy, or a related field, along with expertise in data analysis and precision agriculture technology </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5-12 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Source: Adecco India The rise of ESG jobs signifies a shift in the business landscape towards sustainability and responsible practices. As companies increasingly prioritize environmental, social, and governance factors, the demand for ESG professionals has surged, offering promising career opportunities for individuals committed to creating positive impact and driving long-term value.

Green jobs: A career option that actually impacts lives & the environment

<ul class="summary-list"><li>The SEC is trying to rein in so-called greenwashing that mislead investors about a fund's holdings.</li><li>The regulator recently offered new proposals that would tighten rules on how funds are named and boost disclosure requirements. </li></ul>The <keyword id="11898794" type="UNKNOWN" weightage="60" keywordseo="securities-and-exchange-commission" source="Orion">Securities and Exchange Commission</keyword> is cracking down on so-called greenwashing, but its latest proposals may still leave companies with ample room to define <keyword id="12011554" type="UNKNOWN" weightage="60" keywordseo="esg" source="Orion">ESG</keyword> standards for themselves, according to an environmental lawyer.The proposals were part of an existing effort to stop the ESG label from being used too liberally. But they came a week after <a href="https://markets.businessinsider.com/stocks/tsla-stock?utm_medium=ingest&amp;utm_source=markets">Tesla stock</a> was <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-kicked-out-sp500-esg-index-despite-clean-energy-2022-5">kicked out of the S&amp;P 500 ESG Index</a> despite its focus on making electric vehicles, solar panels, and battery packs — while oil and giant <a href="https://markets.businessinsider.com/stocks/xom-stock">Exxon Mobil</a> was included.The <a href="https://www.sec.gov/news/press-release/2022-92">SEC's newest proposals</a> target funds' naming practices and boost disclosure requirements. One proposal would expand the SEC's Names Rule to include ESG, meaning that a fund billing itself as focused on environmental, social or governance must invest at least 80% of its assets that way.Another proposal would require ESG impact funds to disclose how they measure progress on their goals and make other ESG funds provide information about the greenhouse-gas emissions produced by the companies they hold. That may sound good for Tesla's ESG prospects, and not so good for Exxon's.But while the SEC wants to tighten rules toward clarity, it is simultaneously asking the companies and funds to define ESG for themselves, said Maggie Peloso, a partner at Vinson &amp; Elkins focusing on climate change risk management and environmental litigation."The commission has taken much more of a free-market approach," she told Insider.In the case of Tesla and the S&amp;P 500's ESG index, the EV maker was booted because it was low on S&amp;P Dow Jones Indices' own ESG score, namely over its lack of a low-carbon strategy disclosures and questionable codes of business conduct.The new proposals from the SEC may allow a green-energy company like Tesla to remain outside of the ESG index whereas emitters like Exxon can stay inside. <a href="https://theconversation.com/how-a-sustainability-index-can-keep-exxon-but-drop-tesla-and-3-ways-to-fix-esg-ratings-to-meet-investors-expectations-183705">That's because each company, or industry, is weighted against one another in the same field.</a> Tesla may shine on environmental standards compared to an oil company like Exxon, but its issues with social and governance complaints still weigh Tesla down. "The proposal is still giving private sector actors a lot of ability to define what the 'it' is in a way that's likely to manifest through interactions between fund managers and their investors," Peloso said.

Tesla could get an ESG boost from the SEC's greenwashing crackdown but funds will still have plenty of wiggle room

<ul class="summary-list"><li>New York-based <keyword id="5301718" type="General" weightage="60" keywordseo="senvest-management" source="Orion">Senvest Management</keyword>, a <keyword id="62375" type="General" weightage="60" keywordseo="hedge-fund" source="Orion">hedge fund</keyword> that made $700 million on <keyword id="363661" type="General" weightage="60" keywordseo="gamestop" source="Orion">GameStop</keyword>, is now chasing unloved <keyword id="6357014" type="General" weightage="60" keywordseo="energy" source="Orion">energy</keyword> stocks.</li><li>There's a "very solid outlook" for <keyword id="43177" type="General" weightage="60" keywordseo="oil-and-gas" source="Orion">oil and gas</keyword> stocks for another year or two, <keyword id="10702739" type="General" weightage="60" keywordseo="senvest" source="Orion">Senvest</keyword>'s co-CIO told the FT.</li></ul>One hedge fund that managed to walk away with a $700 million profit on its <a href="https://markets.businessinsider.com/stocks/gme-stock">GameStop</a> investment is now targeting beaten-down oil and gas stocks and says sustainability-focussed investors are missing the opportunity here. New York-based hedge fund Senvest Management bet on GameStop even before the Reddit-fueled mania sent its stock soaring, and pocketed one of the <a href="https://www.businessinsider.com/elon-musk-gamestop-tweet-senvest-hedge-fund-700-million-profit-2021-2?r=US&amp;IR=T">great fortunes from the market frenzy</a>. Richard Mashaal, co-chief investment officer of Senvest, recently told the <a href="https://www.ft.com/content/27fed2a8-7a3e-4cd6-81e5-04e20eb337ec">Financial Times</a> that he now has a quarter of his portfolio in fossil fuel stocks. The hedge fund's interest highlights an investment push into secure sources of energy that are less vulnerable to geopolitical risks. "The result of the <keyword id="77363" type="General" weightage="60" keywordseo="esg" source="Orion">ESG</keyword> movement is that there's been massive multiple compression [in oil and gas stocks] and we still haven't come back from that," Mashaal told the FT, adding that many oil and gas companies had felt they wouldn't have access to investment capital. "Now there are other countervailing interests, such as the security of energy supply, that have come to the fore and which are not going to go [away] anytime soon," he said. Senvest's interest in GameStop was stirred by a convincing presentation from then-CEO George Sherman, but it decided to exit its position after Elon Musk's <a href="https://twitter.com/elonmusk/status/1354174279894642703?lang=en">"Gamestonk" tweet</a> that helped extend the short squeeze, the <a href="https://www.businessinsider.com/reviews/out?u=https%3A%2F%2Fwww.wsj.com%2Farticles%2Fthis-hedge-fund-made-700-million-on-gamestop-11612390687">Wall Street Journal</a> reported. Now Mashaal believes an increase in funding is required for the traditional energy sector to set right years of under-investment, the FT said. "You've got a couple of years before a meaningful production response can be mounted to satisfy demand. There's a very solid outlook [for oil and gas stocks] for another year or two," he said. Two of Senvest's biggest positions are in Canadian energy firms <a href="https://markets.businessinsider.com/stocks/prmrf-stock">Paramount Resources</a> and <a href="https://markets.businessinsider.com/stocks/aetuf-stock">Arc Resources</a>, which Mashaal said are trading below the market value of their US peers. Both stocks are trading at roughly half their record prices, hit in 2014 and 2008 respectively. Oil prices have hit 14-year highs above $100 a barrel on tough sanctions imposed against major producer Russia over its war in Ukraine. French commodities trader Pierre Andurand has predicted <a href="https://markets.businessinsider.com/news/commodities/oil-price-outlook-200-ukraine-war-russia-supply-pierre-andurand-2022-3">prices could hit $200</a>, twice the current level, as Russian crude vanishes from the market. <keyword id="116445" type="General" weightage="60" keywordseo="hedge-funds" source="Orion">Hedge funds</keyword> based in the US and UK were already buying unloved oil and gas stocks discarded by ESG-focused investors, and reaped gains as energy prices rose, the FT <a href="https://12ft.io/proxy?ref=&amp;q=https://www.ft.com/content/ed11c971-be02-47dc-875b-90762b35080e">reported</a> in October. "There's a lot of room for multiple expansion [in these stocks]," Mashaal said, and added that high oil prices haven't been fully accounted for in share prices. "People realize this is not going away in the short or medium term. It's not like ESG goes away, but we [now] need to balance it with energy security and where you want to buy your oil from," he said. Senvest didn't immediately respond to Insider's request for comment. Read More: <a href="https://www.businessinsider.com/stocks-to-buy-inflation-q1-earnings-morgan-stanley-mike-wilson-2022-4">Morgan Stanley reveals which 4 sectors have historically done best as high inflation peaks — and 7 top stock picks within them to buy as earnings season begins</a>

You Searched For "ESG" and got 12 results

SEBI mulls measures to facilitate ease of doing business for ESG Rating Providers (ERPs)

Ira Alok Puranik

This is the anti-ESG venture capital firm that Donald Trump Jr. is joining instead of taking a White House role

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SEBI proposes expansion of sustainable financial framework in securities market

PTI

Free solar electricity to mobile nuclear plants — major sustainability initiatives announced in Budget 2024!

Ankush Banerjee

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'Big Short' investor Michael Burry calls out ESG funds that bet on Silicon Valley Bank: 'impatient, lazy shortcuts'

Morgan Chittum

ESG backlash dominated headlines in 2023, but it's still 'quietly' reshaping industries behind the scenes

Tim Paradis,Alex Nicoll

The future of ESG is expanding. Here’s how 2 experts define ESG investing and why it matters

Elizabeth Wood

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