Category: The Capital Letter
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The Skepticism of Toyota’s CEO on Electric Vehicles
Akio Toyoda, the CEO of Toyota and grandson of Kiichiro Toyoda, who started the auto division of the family business, has been skeptical about electric vehicles (EVs) for some time. He has questioned their environmental friendliness and highlighted the cost of decarbonization for the auto industry and consumers. In December 2020, Toyoda warned that a…
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Criticism of ESG and Stakeholder Capitalism: Undermining Property Rights and Democracy
Criticism of ESG (Environmental, Social, and Governance) investment and opposition to it in certain states are causing concern among those in the ESG ecosystem who have benefited politically and economically from it. The Financial Times and billionaires like Mike Bloomberg and Tom Steyer have criticized politicians for interfering in ESG issues, but ESG itself is…
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Akio Toyoda’s Skepticism Towards Electric Vehicles and Its Impact on Toyota
Akio Toyoda, the CEO of Toyota and grandson of Kiichiro Toyoda, who started the auto division of the family business, has been vocal about his skepticism towards electric vehicles (EVs) and the rush to decarbonization. He has questioned the environmental benefits of EVs and highlighted the potential negative impact on the auto industry and jobs.…
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The Debate over ESG: Is It Compatible with Capitalism?
Criticism of ESG, an investment discipline that scores companies based on their environmental, social, and governance measures, is increasing, particularly in conservative states. Critics argue that giving value to moral or scientific imperatives goes against the profit principle at the heart of the free market. However, supporters of ESG, including billionaires like Mike Bloomberg and…