Not really. Blackrock and Vanguard could close their ESG funds tomorrow and it wouldn't put a dent in their AUM. Both are heavily backed by S&P 500 trackers that are bought by lazy fucks. That's their real business, market tracking ETFs.

Banks that take ESG seriously are more of a threat than those who barely manage their funds and just track the S&P designation of what counts as ESG. Remember when they removed Tesla?

Sovereign wealth funds have large ESG components as well, for example, Norway's fund. These are also actively managed, and therefore a larger threat.

The largest threat now is companies being able to direct people's retirement funds to ESG, to make these funds seem more popular. Biden just passed a bill/EO on it.

Not really. Blackrock and Vanguard could close their ESG funds tomorrow and it wouldn't put a dent in their AUM. Both are heavily backed by S&P 500 trackers that are bought by lazy fucks. That's their real business, market tracking ETFs.

Banks that take ESG seriously are more of a threat than those who barely manage their funds and just track the S&P designation of what counts as ESG.

Sovereign wealth funds have large ESG components as well, for example, Norway's fund. These are also actively managed, and therefore a larger threat.