This all plays into the greenwashing of ESG investing, which allows companies and asset managers to tout credentials when really none exist.
And investors are as guilty as fund managers when it comes to this box-ticking.
Financial advisers tell me that many clients want exposure to ESG without really caring where their money goes. They just want it off their conscience that they are doing the right thing, at least with a small part of their portfolio.
Even among ESG fund managers, accountability can be lacking, with some never detailing how they vote at annual general meetings.
If we want truly radical activism that really does good – not just sticking tongues out to a few hedge funds, but really improves the quality of businesses and management – then the fund managers must play their part.
Then we would not need ESG funds at all, just a world where people know how their money is being invested.
More regulation
It was an interesting contrast, that as the Financial Conduct Authority was being torn to shreds over its inept regulation of London Capital & Finance (and indeed the whole mini-bonds saga), that it was also laying out plans to regulate 'buy now, pay later' products.
This was unusually swift action from regulators and the Treasury, when they are normally tone-deaf.
Maybe lessons have been learned after all.
Satisfied customer
I got my home insurance premium renewal letter – and it had fallen.
These truly are remarkable times.
The upshot is that I have not shopped around. They have hooked me because I do not feel ripped off. I actually feel quite satisfied, even though I may be able to get a cheaper premium elsewhere.
Surely there is a lesson there.
James Coney is personal finance editor of the Times and Sunday Times
@jimconey
