The Myth of Sustainable Fashion and ESG
On August 23, 2022 by Ken PuckerThe following is a conversation with Ken Pucker. Ken is an Advisory Director to Berkshire Partners, and currently teaches Sustainability at the Boston University Questrom School of Business. In addition to this, and among many other things as well, Ken also formally served as Chief Operating Officer of Timberland. This conversation is broken down into […]
ESG Investing Isn’t Designed to Save the Planet
On August 2, 2022 by Ken PuckerBy: Ken Pucker & Andrew King Harvard Business Review Most people assume that ESG Investing is designed to reward companies that are helping the planet. In fact, ESG ratings which underlie ESG fund selection are based on “single materiality” — the impact of the changing world on a company P&L, not the reverse. Asset management […]
A broken system needs urgent repairs by Henry Tricks
On July 22, 2022 by Ken PuckerThank you to the Economist for interviewing me for this piece. It is spot on. Speaking of ESG investing, the article notes “it has a negligible impact on carbon emissions, especially by the highest polluters. Its attempt to address social issues such as workplace diversity is hard to measure. As for governance, the ESG industry […]
Overselling Sustainability Reporting: We’re Confusing Output with Impact
On May 22, 2022 by Ken PuckerHarvard Business Review, May – June 2021 For two decades progressive thinkers have argued that a more sustainable form of capitalism would arise if companies regularly measured and reported on their environmental, social, and governance (ESG) performance. But although such reporting has become widespread, and some firms are deriving benefits from it, environmental damage and […]
ESG and Alpha: Sales or Substance?
On February 25, 2022 by Ken PuckerInstitutional Investor By Andrew A. King and Kenneth P. Pucker February 25, 2022 Managers of ESG investments create false hope, exaggerate outperformance, and contribute to the delay of long-past-due regulatory action. In late 2018, while seated on the dais of The New York TimesDealBook Conference, BlackRock CEO Larry Fink declared that“demand for ESG [environmental, social, […]
The Trillion-Dollar Fantasy Linking ESG Investing to Planetary Impact
On September 13, 2021 by Ken PuckerInstitutional Investor On April 8, the National Oceanic and Atmospheric Administration observatory in Mauna Loa, Hawaii, reported that the carbon dioxide levels in the atmosphere had reached 419 parts per million, the highest levels recorded in more than 4 million years. That same day, BlackRock, the world’s largest asset manager, announced another milestone: It […]
Private Equity Makes ESG Promises: Their Impact is Often Superficial
On July 27, 2020 by Ken PuckerInstitutional Investor Alongside Bono, Richard Branson, and eBay founder Pierre Omidyar, private equity firm TPG launched the Rise Impact fund in 2016. The offering committed “to deliver positive and sustainable impact” while creating a “top-performing fund.” At the time, Bono remarked that “capitalism is going up on trial, and I think that it’s clear that […]