“I don’t adopt the exclusionary perspective, where you withdraw from things, but rather the question is one of how do you deploy skills and capabilities to improve things inside companies, and as a result drive change inside organisations,” Serafeim said.
Financiers, who joined the ESG stampede to improve finance’s reputation, are fundamentally wrong. They joined a finance program hinging on sustainability while sustainability does not exist anywhere in the universe. No diversification of ESG will resolve its causal fallacy.
In fact, there is only one evolutionary theory. It is nature’s theory. And thus, there can only be one finance strategy, one that represents our best proxy of nature. The wiggling of ESG promoters at this point, with a wide thesis drift looking for the credibility it has already lost, is evidence the thesis of ESG is a rebel without a viable evolutionary cause.