Thungela Resources, Anglo’s unwanted little cousin, goes ballistic after ESG strategy backfires

The article discusses the surprising success of Thungela Resources, a coal producer spun off from Anglo American. The author argues that the surge in Thungela's stock price is an unintended consequence of poorly implemented ESG investing strategies that have led to underinvestment in fossil fuels. The war in Ukraine has exacerbated these trends, driving up coal prices and benefiting companies like Thungela. The author questions the effectiveness of current ESG practices if they lead to such outcomes.