Sustainable: Moving Beyond Esg To Impact Investing

The global economy is at a crossroads. Can finance fix it? Proponents of environmental, social, and governance (ESG) investing say yes. They claim that new financial strategies that consider all stakeholders are essential tools for addressing runaway carbon emissions and stark income inequality, among other ills. ESG-integrated investments already encompass more than $120 trillion in financial assets. Is this approach really leading to better social and environmental outcomes for all? If not, how can it be improved? In Sustainable, a finance-industry veteran offers an insider's look at the promises, prospects, and limitations of ESG investing and provides comprehensive solutions that would promote more optimal outcomes. Terrence Keeley argues that both activist and C-suite advocates have been overly optimistic about what ESG can accomplish. Divestment threats are ineffective tools for altering corporate behavior, and verifiably "good" companies do not systematically generate great returns. Most importantly, business and finance cannot achieve inclusive, sustainable growth on their own: regulators, public policies, civil society, and individuals must all play specific, complementary roles to shape the future we need. In particular, Keeley recommends reallocating capital from indexed ESG products toward an emerging class of strategies with more verifiable social and environmental benefits. He identifies alternative "impact investing" strategies that can generate true double bottom lines. The book also highlights organizations that promote inclusive, sustainable economic growth. Proposing practical and actionable solutions to social and environmental problems, Sustainable offers an incisive vision of the roles business and finance can play in building a flourishing society.

• | Author: Terrence Keeley
• | Publisher: Columbia Business School Publishing
• | Publication Date: Nov 29, 2022
• | Number of Pages: 320 pages
• | Language: English
• | Binding: Hardcover/Business & Economics
• | ISBN-10: 0231206801
• | ISBN-13: 9780231206808