(Nasdaq) I know, I know, I know. Some of you may think Crazy Uncle Marty’s anti-ESG schtick is getting a bit nauseating. However, as you should have realized by now, I cannot control myself. When I think there is a good point to be made about the subject, I will make it. And that is what I am here to do today.
The above snippet [see article] comes from a blog posted yesterday by Aswath Damodaran, a professor of finance at the NYU Stern School of Business, which builds on a post he published last September that began to dissect the ESG movement in the capital allocation space and beyond to determine whether or not it is a productive framing to conduct business and life. I highly recommend you take the time to read both pieces because Aswath does an incredible job of breaking down the thesis behind the investment strategy, how it gets implemented in the real world, its failure to accomplish its stated goals, why it can never accomplish its stated goals, and a better framework from which to approach “doing good”.
Read more here.