Environmental, social and governance funds have had a rough ride over the past couple of years, attracting criticism from regulators for greenwash, and from socially minded investors for investing in companies that may be good at managing the increasing risks from climate change, but aren’t doing anything to solve it.

Increasing awareness of the shortcomings of mainstream ESG may be fuelling interest in impact investment as an alternative. Earlier this year the Global Impact Investing Network (GIIN), a U.S. non-profit advocacy group, reported that the market was now worth $1.64 trillion.

https://www.reuters.com/business/sustainable-business/climate-smart-farming-electric-rickshaws-investors-banking-make-an-impact-2023-01-16/