ESG: Trillions Squandered and Zero Progress
2023-07-14
The envisioned benefits of ESG investing—owning companies that follow responsible environmental, social, and governance policies—have failed to materialize. Instead, the blind acceptance of ESG precepts has resulted in trillions of dollars being misallocated and zero progress toward its principle target: climate change.
Terrence Keeley, author of Sustainable: Moving Beyond ESG to Impact Investing, shows how ESG got the ideology right and the methodology wrong. So far, socially responsible investing hasn’t changed anything while handing investors subpar returns.
In this interview, Terry and I discuss:
– ESG will not be enough. We need economic growth that benefits more people and is sustainable.
– Why we must invest in “dirty” firms if we want to make them greener.
– How to achieve
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