ESG has lost its meaning. One advocate says let’s throw it in the trash
October 03, 2023
New York (CNN) — Not so long ago, Wall Street had a particular obsession with ESG investing, which favors companies that promise to make certain strides on the environment, societal impact and corporate governance. Nearly every CEO of a major company touted their firm’s progress toward creating a more sustainable future.
Now the term is falling out of favor. S&P 500 companies citing “ESG” on earnings calls last quarter reached their lowest number since the same quarter in 2020, according to FactSet data.
