“These activities (ESG, SRI, and impact investing) form a coherent challenge to the limitations of modern portfolio theory. MPT, the dominant investment paradigm in the world, focuses on diversification to minimize risk.”

[COMMENTARY] Yes, MPT is upended by our emphasis on ESG, sustainability, and ethics!
The Theory at the Heart of Modern Portfolios Is Leading Investors Astray, by Jon Lukomnik and James P. Hawley, May 28, 2021, Barron’s, USA.