ESG, or “Environment, Social, and Governance,” is the new feel-good buzzword in the halls of global corporations and megabanks. It’s a PR push to cloak morally disastrous firms in a veneer of social and environmental responsibility — lip service — but at the end of the day, I believe the market will speak.
If ESG initiatives cause these companies to bleed money, they’ll start pulling back, and that’s exactly what we’re seeing. Although the ESG trend is far from dead, I doubt it was ever really about being profitable…it makes more sense as a set of PR initiatives and feel-good public-private partnerships where neoliberal institutions, bureaucrats, and megacorporations can pat one another on the back for being “environmentally and socially-conscious.” READ MORE...
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