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The Rise of ESG Investing
Large institutional investors, including BlackRock and Vanguard, are increasingly putting their money into ESG (Environmental, Social, and Governance) strategies, which have taken up as much as $18 trillion in the last couple of years. However, there has been a backlash against ESG from independent oil producers in Texas who argue that financial firms who are knowingly avoiding fossil fuels are boycotting them and hurting their operations.