Move Over ESG, Fund Managers Have A New Favorite Buzzword

Over the last few weeks, we have reported about billions being pulled from ESG funds, hedge funds losing ESG ratings, and companies and banks scrambling to cover up their ESG appeal in pitch decks, all after "woke" ESG name Silicon Valley Bank went under, forcing the market to focus a bit more on things that matter (i.e. solvency, cash generation) instead of the unicorn and rainbow ESG fairy tale it has been obsessed with over the last 5 years. But, the more things change, the more they stay the same. Bloomberg reported this…