Gabriela Herculano CEO and Co-Founder of women-led fintech iClima Earth recently caught up with Proactive’s Katie Pilbeam to discuss their latest climate change ETF monthly report and how constituents of the index are performing.

Elon Musk tweets makes headlines again this time when trashing ESG. The media seems to spend a lot of time discussing Elon’s tweets and we were asked repeatedly if we agree with his points or not. We do. S&P Global announced in mid-May that it had removed Tesla from its S&P500 ESG index an index that has Exxon as a constituent. [1] This incident is yet another example of how using backward looking data manipulated into black box filters fails to capture the essence of ESG which is identifying what companies generate profits that make things better for people and planet. The title of the famous 2004 article that elevated ESG into a powerful acronym said it all: Who cares wins. This article attempted to demonstrate that companies with sustainable practices would have better share performance. ESG was never meant to equate to opaque scorecards. More impactful investments can be made if ESG is used as a goal and that is what iClima does. We use tangible and forward-looking metrics to identify solutions and we believe a new wave of ESG investments is emerging. We call ESG as a goal “ESG 3.0” this new wave of ESG will focus on companies that are causing positive impact (not merely correlating with impact). Our full article on Nasdaq’s World Reimagined can be found here. [2]

Learn more about ESG 3.0 and our climate change ETF here.

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