BlackRock has closed its ESG fund after failing to attract investors. ESG stands for environmental, social, governance, and is a framework for scoring businesses. This framework has been heavily promoted by the World Economic Forum and is sup[posed to be used to guide government dollars and private investment into climate-friendly, responsibly-led businesses.

Analyst Comment: Many of the efforts of the WEF have failed and will continue to fail. Just a few months ago, the WEF shared an article warning ESG was being co-opted by grifters and made the case for a pivot to a new, more comprehensive framework. Despite their massive resources and nefarious intentions, these initiatives rarely gain traction in the real world.