Whenever you park your money somewhere - anywhere you are investing it.
The speculative risk changes depending on where you park it but there is speculative risk in each and every place you park your cash (including under the mattress).
ESG is very much a strong investment relative to others (as you pointed out with MEL etc).
ESG's Market Cap is relatively healthy, reserves are strong and this leftist government support it (for the moment anyway). There are of course many other reasons making ESG a stronger rather than weaker "investment".
Speculative risk exists when you park your money in the bank/dividend producing stocks or in fact anywhere but the risk reward ratio is different with each type of investment.
Again, stop chucking another "Julia Gillard" just because she can get away with her spin on ABC's Q&A (complete with carefully selective BIAS tweets from the general public) doesn't mean you can here...
ESG Price at posting:
61.5¢ Sentiment: Buy Disclosure: Held