The ESG Movement: The “Goodness” Gravy Train Rolls On!
Last year, I wrote a post on ESG and explained why I was skeptical about the claims made by advocates about the benefits it would bring to companies, investors, and society. In the year since, I have heard from many on the topic, and while there are some who agreed with me on the internal inconsistencies in its arguments, there were quite a few who disagreed with me. In keeping with my belief that you learn more by engaging with those who disagree with you, than those who do, I have tried my best to see things through the eyes of ESG true believers, and I must confess that the more I look at ESG, the more convinced I become that “there is no there there”. More than ever, I believe that ESG is not just a mistake that will cost companies and investors money while making the world worse off, but that it creates more harm than good for society.
Posted by Aswath Damodaran
