Silicon Valley buoys ESG funds

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The story "Silicon Valley buoys ESG funds" was covered 5 days ago by Financial Times, a news publisher based in United States.

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Financial Times 5d ago

Silicon Valley buoys ESG funds - Financial Times

Quick Summary:

Nvidia deserves a reputation as a sustainability leader in part because its chips beat competitors on energy efficiency, Andrew Choi, a manager on Parnassus’s core equity fund, told me.

Though Nvidia’s chips are expensive, “there is a reason why their customers are buying it: from an energy perspective, it is the most efficient way to train [AI] models”, he said.“For us, we are continuing to hold a large position in Nvidia and we don’t think the momentum is really going to let up until maybe some time next year.

BlackRock’s iShares ESG Aware fund, which does not invest in tobacco, thermal coal and other polluting businesses, slightly underperformed the S&P 500, with a gain of 14.4 per cent so far this year.