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Zero: The Climate Race
Why (almost) everyone hates ESG right now
Feb 27, 2025
Frances Schwartzkopff, a Copenhagen-based reporter covering ESG regulations, and Saijel Kishan, a New York-based reporter focused on ESG investing, tackle the current backlash against Environmental, Social, and Governance initiatives. They discuss the EU's rollback on ESG legislation and why many companies are quietly maintaining their ESG strategies despite skepticism. The conversation highlights the clash between U.S. and EU regulations, reflecting on the evolution of ESG frameworks and the financial implications for businesses navigating this complex landscape.
26:40
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Quick takeaways
- The rollback of ESG regulations in the EU, coupled with growing skepticism in the U.S., highlights the increasing uncertainty companies face in sustainability efforts.
- Despite challenges and public backlash, many companies are engaging in 'green hushing' by continuing their ESG initiatives privately to avoid criticism.
Deep dives
The Rise and Challenges of ESG
The environmental, social, and governance (ESG) movement has seen its origins linked to a shift in corporate responsibility, focusing beyond simply financial profit to include societal obligations. The concept of corporate sustainability gained traction in the European Union after the 2012 financial crisis, leading to regulations such as the Non-Financial Reporting Directive, which mandated companies to disclose information on ESG factors. While these regulations aimed to standardize sustainability reporting, gaps in enforcement and vague requirements hindered their effectiveness in guiding investors. As ESG standards evolved, challenges arose in ensuring data accuracy and overcoming resistance from companies that struggled to adapt to these new expectations.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode