The ESG investing market is fundamentally flawed and experiencing a decline in investments. Assets under management in ESG funds in the US decreased from $339 billion to $315 billion in the third quarter of 2023. Robert Jenkins, head of global research at Lipper, believes that the ESG concept is ineffective and plans to focus on responsible investing in a broader sense. Jenkins criticizes ESG investing for its inability to quantitatively measure qualitative factors. He argues that the three pillars of ESG (environmental, social, and corporate governance) cannot be effectively combined into a single score. Jenkins suggests that artificial intelligence could improve ESG analysis by processing large amounts of data transparently. He also notes that the market for ESG funds has been affected by the division and relabeling of products. Rising geopolitical tensions, such as the conflict in Ukraine, and fluctuations in oil prices have also impacted flows into ESG funds. In addition, the article mentions that many companies have shown support for Israel in response to attacks by Hamas.
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