American politics have been corrupted so much by big money that our democracy cannot effectively deal with environmental and social concerns.
For nearly two decades, major corporations have touted principles known as E.S.G. , ostensibly by focusing their businesses on these concernsBut now Republicans are taking aim at this approach, calling it “woke capitalism” and using it to demonstrate that Democrats and progressives are trying to impose their views on the rest of society.
Corporations and institutional investors won’t deviate from maximizing short-term profits and shareholder returnsAnd even then, only when the penalty for violating the law multiplied by the probability of getting caught is higher than the profits from continuing with the illegality. In 2019, the Business Roundtable — one of Washington’s most prestigious corporate groups — issued a widely publicized statement expressing “a fundamental commitment” to the wellbeing of “of our stakeholders” , including employees, communities, and the environment. The statement was widely hailed as marking a new era of E.S.G.
The pressures on companies to maximize their profits and share values — social responsibility and E.S.G. be damned — are coming from shareholders, top executives , and retirement plan managers, even those who tout their commitment to E.S.G.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Guardrails Against Greed Capitalism Must Have'Capitalism needs regulation if it is to serve the public,' writes RBReich. 'Greed requires guardrails if it is to stay on track.'
Read more »
Russian billionaire warns Putin's running out of money'State capitalism is not an option,' said Russian oligarch Oleg Deripaska.
Read more »
Club for Growth asks South Dakota governor to veto bill that says bitcoin isn't moneyEXCLUSIVE: Club for Growth asks South Dakota governor to veto bill that says bitcoin isn't money
Read more »
Chaka Khan Isn’t Letting Rolling Stone Get Away With This One!Saying the “Greatest Singers” list failed to include singers.
Read more »
‘Funny Girl’ is closing on Broadway — Lea Michele isn’t leavingEven a closing notice won’t rain on Lea’s parade.
Read more »
KFC's Double Down isn't the only sandwich going beyond the bun — doughnut burgers, anyone?As one food influencer declares: 'Bread is boring.' Check out these savory sandwich substitutions made for TIkTok and Instagram.
Read more »