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ESG Critique
- ESG is often called "woke capitalism" by figures like Vivek Ramaswamy.
- Tariq Fancy, BlackRock's former CIO of Sustainable Investing, criticizes ESG's effectiveness.
ESG Misconceptions
- Most people believe ESG investing creates social impact with their money.
- Investment managers see ESG as higher returns with social impact, but it's mostly marketing.
Honesty in Stakeholder Capitalism
- Business leaders should be honest about the limitations of stakeholder capitalism.
- They should acknowledge the need for government intervention to address market failures.