Criticism mounts as well-intentioned ESG investors and companies face pushback from volatile markets, hostile politicians, questionable investments and accusations of greenwashing.
(Article originally published in Nov/Dec 2022 edition.)
A recent Barron’s cover story featured a company called Tricolor and hailed it as a favorite of ESG investors. A “buy here, pay here” used car dealer catering to underserved communities in Texas and California, Tricolor was a shining example of a socially conscious firm that met the needs of those – in this case, mostly poor Hispanic immigrants – otherwise unable to buy a car by both selling them one and financing it for them.
It attracted…
