
The big fallacy in the backlash against ESG and stakeholder capitalism
Critics of ESG and stakeholder capitalism make some valid points – but they can't easily dismiss how the latter is increasingly important in driving enterprise value.
Degrees, University of Natal, South Africa and University of Oxford, UK; Rhodes Scholar. Director, Corporate Responsibility Initiative, Harvard Kennedy School; Non-Resident Senior Fellow, Global Economy and Development Program, Brookings. 1993-2012, Director and Senior Adviser, Prince of Wales International Business Leaders Forum. Prior to 1993, with the Business Council for Sustainable Development, Africa, FUNDES in Latin America, and Vice-President, Citibank Financial Institutions Group, Asia, Europe and Middle East. 2001, with UN Global Compact preparing UN Secretary-General's report for the General Assembly on cooperation between United Nations and the private sector. Former Senior Associate, Institute for Sustainability Leadership, Cambridge University; former Track Leader and Adviser, Clinton Global Initiative. Member, Board of Directors: Newmont Corporation; Chevron’s Niger Delta Partnership Initiative. Emeritus Director: World Environment Center. Member, Advisory Councils: Abbott, Bank of America, ExxonMobil, Griffith Foods, APCO Worldwide, and Business Fights Poverty. Member, World Economic Forum Food Systems Stewardship Board; Member, Global Future Council (GFC) on Transparency and Anti-Corruption; former Co-Chair, GFC on Food Systems Innovation. Co-author of six books and over 100 publications on corporate responsibility, public-private partnerships, and the role of the private sector in development, and five of the World Economic Forum’s global corporate citizenship reports. Recipient of honours and awards.
Critics of ESG and stakeholder capitalism make some valid points – but they can't easily dismiss how the latter is increasingly important in driving enterprise value.
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