The impact of green investors

SUSTAINABLE INVESTINGESGPRESG is in the firing line, as two recent events have shown. Last week, the board of Danone, a French food-maker, fired its boss, Emmanuel Faber, who had long championed the benefits of stakeholder capitalism and sustainability. Shareholders were unhappy with the firm’s languishing share price.The next day published an opinion piece by Tariq Fancy, a former head of sustainability at BlackRock, the world’s biggest asset manager, which says it puts climate change at the centre of its investment strategyMr Fancy called investing that takes into account (environmental, social and governance) factors “little more than marketing hype, spin and disingenuous promises”. He pointed to funds which invest in big polluters, such as oil firms. (BlackRock has said it disputes the claims.)