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ESG skepticism

Alongside these trends, ‘ethical’ or ‘sustainable’ investment strategies, called ‘Environmental, Social, Governance’ (ESG) investing have enjoyed increasing popularity, with record inflows during the pandemic. Governments around the world are increasingly looking to ‘ESG’ strategies and leveraging ‘sustainable’ private finance to drive the transition to a decarbonised economy. However, there are several reasons to be sceptical of the ability of ‘sustainable finance’ to deliver.

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Black rock is a asset mangement firm controlling a significant about of wealth. More than the GDP of Japan & Germany combined.
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Figure 1 Direction ownership of UK shares across the household income distribution
Notes: Figures reflect the total value of shares held in a given income decile divided by the total number of households in the decile. Note that the Top 1% and Top 0.5% shown above are subsections of Income Decile 10 (Highest).
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End fire and rehire in full by removing broad or undefined exceptions
Pros
Quick to implement.
Comparatively simple to legislate, as cap can be based on historic revenue profile.
Cons
Temporary — assumes the market will eventually correct windfall profits.
Likely to have a modest impact on bills (for further detail, see Comparing the Alternatives below).

Quotes

My philosophy and ethos is [that] I’d never ask a [union] member to do anything I wouldn’t be willing to do myself. So…if I wouldn’t be willing to send myself or a family member into those working conditions, then we should be as a movement trying to push for international legislation

Jason Powell, Plant Convenor, BMW Hams Hall
My philosophy and ethos is [that] I’d never ask a [union] member to do anything I wouldn’t be willing to do myself. So…if I wouldn’t be willing to send myself or a family member into those working conditions, then we should be as a movement trying to push for international legislation

CDW

Amelia Horgan

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