ESG & Investing
Kyle Bass Says Blackballing Oil Has Proved a Bad Bet for ESG
- The hedge fund veteran weighs in on the ESG backlash in Texas
- Hydrocarbons can’t be abandoned immediately, Bass says
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One of the most contentious investing strategies on Wall Street might be a lot less beleaguered right now if its defenders had shown a bit more moderation from the get-go, according to Kyle Bass.
The hedge fund veteran and founder of Hayman Capital Management says the backlash that’s been building against environmental, social and governance investing in recent years is largely due to climate activists’ demands that fossil fuels be abandoned here and now. As a proposition, that was never tenable or even responsible, he says.