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https://www.bloomberg.com/news/features/2021-07-13/why-former-executives-warn-of-false-gains-in-esg-frenzy

Corporate Climate Efforts Lack Impact, Say Former Sustainability Executives

2021-07-13 00:00:00, Saijel Kishan, Bloomberg.com

Content Categorization
/Business & Industrial
/News
/Finance

Word Count:
2134

Words/Sentence:
25

Reading Time:
21.34 min

Reading Quality:
Advanced

Readability:
16th or higher

Media Sentiment
Proprietary sentiment analysis on both the headline and body text of the article. Sentiment scores range from -1 (very negative sentiment) to 1 (very positive sentiment).
RCS Analysis
Relative scoring for Risk, Crisis, and Security language within the article.
Risk Score
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PESTEL Scope
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Entity Word Cloud
Key people, places, organizations and events referenced in the article, weighted by frequency and colored based on contextual sentiment.
Auto Summary
Condensing key features of the article based on salience analysis. Helpful for “gisting” the article in a time crunch.

The bigger problem than greenwash is greenwish," Duncan Austin, a former partner at Al Gore's Generation Investment Management, said, referring to greenwashing where environmental benefits are exaggerated or misrepresented.

During one hours-long internal meeting to discuss ESG funds with senior management in London, the former distressed-debt investor said he sat silently as they solely focused on how to market them, rather than discuss their underlying investments.

Environmental, social and governance investing, or "ESGlalaland," suffers from "cognitive dissonance," sustainability veteran Ralph Thurm said in a March report titled "The Big Sustainability Illusion."

Hundreds have announced net-zero emissions targets and poured billions of dollars into solar and wind projects, while chief sustainability officers have become ubiquitous in C-suites.

And then in March, during a lunchtime bike ride weaving through the Colorado mountains, Schendler came to another realization: Corporate sustainability is complicit with the fossil fuel industry."I thought, what would fossil fuel companies want other businesses to be doing?"

Keywords
Generic 1st 'CL' Future, Money Manager, green, Page: feature, Executives, Government, BLACKROCK INC, Investment Management, Investing, Secondary Brand: green, Region: Global, Carbon Emissions, Climate Change, ESG

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