Commentary How green is your green portfolio? There’s a relatively new trend in investing called ESG. ESG stands for “environmental, social, and governance,” which generally means investing with an eye to sustainable outcomes. Marketwatch defines it like this, “The point of sustainable investing is to use personal values to invest in companies the person believes will have a positive impact and outperform in the long run, the basis of the idea of ‘doing well by doing good.’” Unfortunately doing good doesn’t always lead to doing well. That same article by Marketwatch revealed, “Some of the biggest environmental, social, and governance exchange-traded funds have exposure to fossil-fuel companies and ‘sin’ stocks like gambling and tobacco firms.” Embracing Sin to Make a Buck The problem really isn’t that ESG investments can’t be profitable. The problem is many ETFs are passive funds. That means they’re set up to track larger market-cap weighted indexes. …