The push for ESG comes partly from investors who want to use their money to pressure companies into certain behavior. At least as big a push comes from investment managers. With market-matching index funds beating traditional stock pickers, it’s become harder to keep charging high fees. Asset managers are rescuing underperforming vehicles from oblivion by converting them to a sustainable approach. One in six ESG funds has been retrofitted out of a pre-existing, often struggling strategy, according to Morningstar; last year, 25 portfolios became born again as sustainable funds. Investors, it seems, are more likely to put up with low returns and high fees if you enable them to feel righteous.

https://www.wsj.com/articles/you-want-to-invest-responsibly-wall-street-smells-opportunity-11618586074?mod=markets_lead_pos5