IPFS News Link • World Economic Forum

Stakeholder Statism is Coming

• arclein

A unification of forces has produced the array of Environmental, Social, and Governance (ESG) policies that have fervently emerged across Europe and in America in the past two decades. Broadly defined, ESG promises environmental activism, egalitarianism across races and genders, and an aspirational commitment to social justice, enforced in and through corporations. How should we think about this incredibly skilled and powerful movement that has enlisted our largest and most successful corporations in its efforts, along with a host of transnational institutions, NGOs, and national and subnational governments? Is ESG an actual threat to free institutions, most notably markets and civil society? Or, as advocates contend, do ESG policies provide better pricing and risk factors to what are dangerous, risky, and environmentally unsound practices? Will ESG help us to both earn money and do well by serving people and the planet?