ESG investment favours tax-avoiding tech companies
Over 90% of tech industry workforce work from home: Azim Premji
February 22, 2021
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February 22, 2021
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he huge rise in environmental, social and governance-based investing is funnelling money into companies that pay less tax and provide fewer jobs than many counterparts with lower ESG ratings, analysis shows.Assets under management in ESG ETFs jumped three-fold from just under $59bn at the end of 2019 to $174bn at the close of 2020, according to data from TrackInsight, an ETF data provider.
Yet while the ESG movement is driven by a stated desire to improve the world by tackling issues such as climate change and board composition, it is arguably exacerbating other fissures in society.
The combination of electric vehicle mania and blank cheque companies has proved a volatile one
