Former Blackrock Cio Criticizes Sustainable Investing Industry

Tariq Fancy: ESG Funds Are a 'Dangerous Placebo'

Former BlackRock CIO Criticizes Sustainable Investing Industry

Tariq Fancy's bombshell declaration has sent shockwaves through the financial world

Tariq Fancy, the former chief investment officer for sustainable investing at BlackRock, has launched a scathing attack on the ESG fund industry, calling it a "dangerous placebo" and a "fraud." In a series of tweets, Fancy accused ESG funds of being nothing more than a marketing gimmick and said that they are not actually making a positive impact on the environment or society.

Fancy's comments have been met with mixed reactions. Some have praised him for speaking out about the shortcomings of the ESG industry, while others have accused him of being too critical. However, there is no doubt that Fancy's comments have sparked a debate about the future of sustainable investing.

In the wake of Fancy's comments, it is important to take a closer look at the ESG fund industry and to ask whether or not it is living up to its promises. ESG funds have become increasingly popular in recent years, as investors have become more aware of the importance of environmental, social, and governance factors.

However, there is growing evidence that ESG funds are not actually making a positive impact. A recent study by the University of Oxford found that ESG funds do not outperform traditional investments and may even underperform in some cases. The study also found that ESG funds are often biased towards large companies and that they do not do a good job of investing in companies that are真正做出改变.

Fancy's comments have raised important questions about the future of sustainable investing. It is clear that the ESG industry needs to do a better job of living up to its promises. If it does not, it is likely to lose the support of investors and regulators.