“There is one and only one social responsibility of business — to use its resources and engage in activities designed to increase its profits.” This quote by famed economist Milton Friedman, as well as his held belief that a business should be accountable only to its shareholders, is increasingly falling out of fashion. Employee and consumer activism about increasingly emergent global issues are causing more and more businesses to adapt and become better corporate citizens. This has also led to the rise of impact investing.
ESG, referring to Environmental, Social, and Governance, represent the three key dimensions in measuring the sustainability and societal impact of a business. Today, we’ll be speaking with three business leaders about ESG, impact investing and whether it is here to stay.