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ESG investors have shrugged off questions posed by Russia’s invasion of Ukraine

The conflict revealed a host of flaws with the ESG movement, but funds seem to have come out unscathed

By David Wighton
ESG advocates have been forced to deal with risks ranging from energy security to geopolitics as opinions split on whether Russia's war means the West should scale back its green ambitions
ESG advocates have been forced to deal with risks ranging from energy security to geopolitics as opinions split on whether Russia's war means the West should scale back its green ambitions Photo: AFP/Getty Images

David Wighton is a columnist for Financial News

A year ago, critics of the ESG investing movement predicted it would be one of the casualties of Russia’s invasion of Ukraine. Fossil fuels and armaments suddenly looked less like evils that responsible investors should shun and more like essential life-support systems for western democracies. Surely Vladimir Putin had shown the folly of this approach to investing, said the sceptics.

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