Tag: ESG
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The Dangers of Mission Creep in Local Governments and Public Agencies
Local governments have traditionally existed to serve specific functions, with cities taking care of public safety and roads, school and community-college districts handling education, and transit agencies running buses and trains. However, local-government leaders often face increasing demands, both internally and externally, to address issues beyond their core competences, which can have adverse results for…
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The Truth About ESG: A Coordinated Cartel or a Sustainable Movement?
A general counsel from a Fortune 500 company recently shared with me a common narrative that many senior corporate executives have experienced regarding ESG (environmental, social, and governance) standards enforced by a network of large funds and NGOs. Companies that have enjoyed years of spectacular returns boosted by their growing use of energy renewables and…
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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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The Environmental, Social, and Governance (ESG) Movement: An Organized Cartel or Progressive Environmentalism?
A Fortune 500 general counsel recently confided in me after a conference, sharing a common narrative among senior corporate executives regarding the Environmental, Social, and Governance (ESG) standards enforced by a network of big funds and nongovernmental organizations. Companies that use energy renewables and lead in carbon-emission reductions expect positive ratings for the “E” element.…
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The Dangers of Mission Creep for Local Governments: Balancing ESG, DEI, and Core Functions
Local governments have traditionally focused on specific functions such as public safety, education, and transit. However, there is increasing pressure from both internal and external sources for these organizations to address extraneous priorities, such as environmental, social, and governance (ESG) issues and diversity, equity, and inclusion (DEI) initiatives. This can lead to adverse results for…
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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…
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The True Intentions Behind ESG: An Organized Cartel Seeking to Control Private Companies
During a recent conference, a Fortune 500 general counsel confided in me about the true intentions behind ESG, the environmental, social, and governance standards enforced by a network of big funds and nongovernmental organizations. This narrative is shared by many senior corporate executives who have been shocked to receive poor ratings on the ESG dimensions…