Shorting your way to Net The #ESG Impact of your Portfolio

NWTM Management
3 min readNov 26, 2021


A thesis we wrote in combination with our research partner New Atlantis Research

In this piece we highlight a company that we believe might be the most egregious #ESG violator in US Markets — however, they have swept most of the dirt under the rug and have convinced institutional investors accordingly

We are calling on the institutions invested in this name to review their standards (Blackrock owns 6.6%, Fidelity owns 4%) and we urge others to consider this as a short in order to improve portfolio net impact (as well as a beta hedge, as we expect more turbulent times ahead)

In addition to the ESG woes, the company in question trades at a massive / uncalled for premium to it’s comp set and we also believe that their fundamentals are deteriorating as we speak

A big thanks to AQR Captial for their work on this theme which partially inspired this piece:

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