America’s Largest ESG Fund Has No Direct Renewable Holdings

Environmental, Social and Governance (ESG) – often referred to as ‘Socially Responsible Investing’ (SRI) or ‘Sustainable Investing’ (SI) – account for roughly 33% of total US assets under management, largely due to institutional investors which can then advertise their virtuous holdings. Except, America’s largest ESG fund – the Parnassus Core Equity Fund – has no direct investments in renewable energy companies, according to Bloomberg, which notes that “Instead, the $25 billion Parnassus Core Equity Fund holds stocks…