How did ESG funds wind up investing in Putin’s Russia?
Funds labeled ESG — an acronym that denotes a commitment to environmental, social and governance interests — own shares of Russia’s state-backed energy behemoths Gazprom and Rosneft, as well as its biggest lender, Sberbank. The funds also hold Russian government bonds, providing money that ultimately helped pad the coffers of President Vladimir Putin’s autocracy.
Photo credit: Associated Press
