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As green energy funds drop in value, investors
are fleeing: Will it be the end of ESG?

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Posted By: Beardo, 12/16/2023 1:22:17 PM

In 2018, Bank of the West issued policy statements vowing to limit the business it would do with fossil fuel companies. (snip) The iShares Global Clean Energy exchange traded fund (ETF) is down 36.59% this year as of Wednesday, and the S&P Global Clean Energy Index is down more than 30%. That’s compared to the S&P 500 Index, which rose more than 23% YTD as of December 12.

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Reply 1 - Posted by: DVC 12/16/2023 1:40:06 PM (No. 1618696)
I made sure that none of my holdings were in any of these "green" investments, years ago. Still happy to have stayed well clear of their disasters. At one time, right after college, a much more naive and younger me, after studying much about solar energy engineering, came VERY close to starting a solar energy company to produce and sell solar heating and electrical systems. This started after the OPEC oil shocks of 1970s, and the endless drumbeat of "peak oil" and "we have to get rid of coal and oil", which I couldn't avoid thinking MIGHT be real, at the time. I had spent 18 months working on a master's thesis building a hybrid electric bus, too. LOTS of "alternative energy and transportation" stuff was going on on the 1970s. After a year or two of following the market in solar, and studying the whole oil production thing....I decided that this would be a losing proposition, and put away the solar and hybrid electric stuff. Every year that has gone by, I have been more and more certain that I took the right path....oil, gas, coal, nuclear and standard stuff WHENEVER it is available. In the 1990s I built a retirement home in the remote Colorado mountains, and found that getting electricity to the site would be prohibitively expensive. So, I designed and built a solar electric system for our very thermally well insulated home in the mountains. It still serves well today, never have had any external power, and all is well. Heading out there for Christmas in a few days. Wood heat, propane refrigeration and hot water, electicity is for lighting, the water pump and sat TV, computers, etc. Finally got internet last year, as there are more people moving out there, 30 years later. Still find that solar is good for small applications, if maintained by an "on site" engineer who doesn't mind fiddling here and there, and understands the system entirely. BUT, for the average person, when mains power is available - it's a bad idea. All this green stuff is superficially attractive, but in the reality....it is far more expensive and far less convenient that conventional EVERYTHING. Avoid all things "green" like the plague that they are.
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Reply 2 - Posted by: MickTurn 12/17/2023 12:48:52 AM (No. 1618959)
ESG...Extra Special Goobers
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Posted by Beardo 12/16/2023 1:22:17 PM Post Reply
In 2018, Bank of the West issued policy statements vowing to limit the business it would do with fossil fuel companies. (snip) The iShares Global Clean Energy exchange traded fund (ETF) is down 36.59% this year as of Wednesday, and the S&P Global Clean Energy Index is down more than 30%. That’s compared to the S&P 500 Index, which rose more than 23% YTD as of December 12.
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