Couldn’t have happened to a nastier bunch of people.

Global investments in trendy sustainability assets shrank by nearly $5 trillion over two years, researchers say, as US and other financiers soured on investments seen as risky and opaque.

In its biannual assessment, the Global Sustainable Investment Alliance (GSIA) said on Wednesday that investors had $30.3 trillion in sustainable assets in 2022, down from $35.3 trillion in 2020.

In the US, where Republicans have railed against ESG funds, which push for environmental, social, and governance benefits, such assets plunged from more than $17 trillion to just $8.4 trillion over the same period.

The drop in part reflected changes in how ESG assets were measured and classified.

ESG investments peaked in 2020, but have dropped dramatically since Republican states started cracking down and since ESG was imposed as a kind of quasi-social credit system. What is ironic is that it collapsed with a Democrat in the White House, since it would make sense such an effort would flourish under the Biden administration.

Corporate policies fail when placed against almost every available metric as evidenced by companies who implemented ESG guidelines as opposed to those who did not. For example, H&M claimed three years ago that its new Conscious Collection was more environmentally friendly but the product line is the subject of a lawsuit because the products allegedly need more water to produce.

A 2021 study revealed that over half of companies that advertised being supportive of a number of environmental goals did not live up to their promises. A number of loans based on ESG standards appear to be at risk of default too. The ESG scam was a cover for leftist politics, pushing social agendas that is not only bad for companies, but also bad for people. Companies exist to make money and not conduct social experiments. ESG’s dying on the vine or actual demise couldn’t have happened soon enough.