News > Adani shock exposes ESG fund managers clinging to ‘terrible’ bet

Adani shock exposes ESG fund managers clinging to ‘terrible’ bet

ESG fund managers have once again found themselves on the wrong side of a market meltdown. Roughly 770 ESG funds worldwide hold shares of Adani Green Energy Ltd., which just lost about a quarter of its value after US prosecutors charged Gautam Adani with suspected bribery. It’s one of a group of companies in the Adani empire that made it past ESG screens, only to be dumped by investors as they digest a fresh litany of alleged breaches.