“The vast majority of financial professionals are unwilling to back completely the sustainability claims made by investment funds, according to research from the Association of Investment Companies (AIC),writes Andrew Michael.”

[COMMENTARY]In reality, claims by individual passive ESG funds that they’re influencing — for the better — actions of companies in the economy and that their funds are bound to outperform conventional funds, are hard to prove. Hence, advisors and investor skepticism .

Nonetheless, the entire ESG phenomenon is having significant beneficial impacts on the economy from many angles. For instance, higher stock valuations of companies engaging in ESG initiatives spur companies to perform better on ESG measures, etc.
Investment Update: Majority Of Financial Advisors Unconvinced About Funds’ Sustainability Claims, by Andrew Michael and Jo Groves, November 8, 2022, Forbes.com, USA.