Billionaire Elon Musk has described so-called ESG criteria as a “scam”, but it’s growing more popular as the appetite for responsible investment hits new highs.
Why corporate ‘green-washing’ causing stir
Progressive, climate-savvy Australians have driven so-called responsible investment to new highs.
But they expect more than a tick and flick by companies when it comes to backing up their claims on environmental values, gender and racial inclusion or stamping out slavery.
Environmental, social and governance (ESG) criteria are used to screen investments and encourage companies to act responsibly.
Leading data scientist Andy Moniz says the proliferation of obscure or misleading claims comes as no surprise given there’s no agreement on what ESG investing means.