ESG: egregiously stuffy garbage

Tomorrow's Business

A typically excellent piece in today’s Evening Standard by the predictably erudite Tony Hilton.

Sir Tony, or Lord Hilton, whichever you prefer, takes on ESG – that’s Environmental, Social and Governance issues to those in the cheap seats.

Brighter minds than me (insert joke here) insist this stuff is a really big deal.

It definitely isn’t just a load of waffling consultants mucking about at pointless conferences with the full intention of achieving nothing beyond looking like their employees actually care.

It definitely isn’t this.

But as Hilton points out, almost no one can agree what ESG actually means. Still less whether it does anyone any good.

One example: According to MSCI, Tesla is top ranked for sustainability. FTSE ranks it at the bottom. Sustainalytics puts it in the middle. Plainly, at least two of them are wrong.

I think until there’s some sort of consensus on this stuff the flak trade is going to have a hard time persuading unreconstructed hacks that ESG is any more than a reason to hold award ceremonies at which all shall receive prizes.

Coca-Cola, it seems, has not the slightest intention to use less plastic.

It will still get an ESG award at some point, I bet you.

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