Quartz: “Investors poured more than $120 billion this year into exchange-traded funds marketed as comprising companies with strong environmental, social, and governance (ESG) track records. That’s double last year’s level, and total investment in ESG ETFs could reach $1 trillion by 2025, according to Bloomberg, making them one of the hottest investment products on the market. These funds ostensibly drive capital toward socially and environmentally conscious corporations, and allow their owners—for the most part, pension funds and other large institutional investors—to claim they are reducing their investment in unethical or destructive companies. But BlackRock and the other asset managers that compile the most popular of these funds don’t always agree on what “ESG” really means or how to build a portfolio around it. As a result, many ESG ETFs have a carbon footprint that is scarcely lower than the S&P 500…”