Hedge funds cash-in on coal comeback despite ESG concerns

A number of well-known hedge funds have profited from big bets on coal recently, despite the obvious sustainability issues. Firms such as Third Point, Makuria Investment Management and Odey Asset Management have booked big profits by backing coal companies, as reported by the FT. Coal miners have been shunned by large parts of the investment industry because the large carbon dioxide emissions from coal use make the companies incompatible with sustainability policies. This has, however, created an opportunity for hedge funds or other investors choosing to operate outside of ESG fram...