The Daily What Is E.S.G., and Why Are Republicans So Mad About It?
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Mar 13, 2023 David Gelles, climate correspondent for The New York Times, dives into the heated world of E.S.G. investing, where environmental, social, and governance factors collide with political opinions. He discusses how E.S.G. has rapidly reshaped corporate responsibility and the backlash it faces from conservatives branding it as 'woke capitalism.' Gelles also explores Texas legislation targeting companies against fossil fuels, revealing the tensions between business practices and political agendas. This sparks a national debate on corporate influence and traditional values.
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ESG Definition
- ESG stands for Environmental, Social, and Governance.
- It considers factors beyond profit, like a company's impact on the world.
ESG Origin
- ESG gained traction after the 2008 financial crisis, amid public distrust of Wall Street.
- It emerged alongside concepts like CSR and DEI as a way for businesses to rebuild their image.
ESG and Profitability
- ESG proponents argue it's good for long-term investments.
- They claim diverse companies and those weaning off fossil fuels will be more profitable.