CCLA-ECGI Seminar: A Need to Rethink ESG? Global Perspectives
From Mr LAU Kwan Ho _
It is uncontroversial that ESG is a global phenomenon. In the West, East, North, and South, it is at the centre of corporate governance reforms, which aim to address the world’s most pressing problems. Trillions of dollars of capital have flowed into ESG-linked investments around the world. Despite this embrace of ESG globally, there is less scrutiny of the ESG movement than one may expect.
This seminar aims to drill down into several key developments in the ESG movement from multiple perspectives in different areas of the world. Jesse Fried (Harvard Law School) will explain how ESG in the United States has become increasingly costly to shareholders, by distracting regulators, boards, and asset managers from their core functions. Dan Puchniak (Yong Pung How School of Law) will explain how the emerging focus of new stewardship codes on ESG is more likely to create false hopes than real change in corporate governance in Asia and globally. Hao Liang (Lee Kong Chian School of Business) will present major theoretical models and empirical evidence from various literature (finance, accounting, management, and economics) on how ESG activities are related to stock return, corporate operating performance, firm value, and the welfare of society at large.
The seminar will conclude with a discussion among the speakers and a Q&A session to illuminate whether there is a need to rethink ESG.