Policy Backgrounders
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Geopolitics Hub

Policy Backgrounders

CED’s Policy Backgrounders provide timely insights on prominent business and economic policy issues facing the nation.

ESG and the Backlash

July 28, 2023

CED’s recent Trustee Policy Summit included a session on the growth of ESG and the associated backlash. CEOs and boards are increasingly considering their responsibility to society; however, backlash has been growing against initiatives as unnecessarily political. Businesses must consider the response to societal issues that best suits them, but several factors are contributing to ensuring that the ESG issues remain on the business leadership agenda.

  • Generational change in the workforce is a key driver of ESG; for many Millennials and Gen Z, the employer is often their principal connection to society, and these workers have a strong desire to work for an organization doing good in the world.
  • Today, more than 85 percent of business value is tied to intangibles, rather than physical assets, which increases the relative value of human capital.
  • The backlash against ESG has had greater impact on what businesses say rather than what they do. They are still sticking to their ESG principles, particularly on climate, but being not careful about the stands they take publicly on controversial issues.

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Authors

Dr. Lori Esposito Murray

Dr. Lori Esposito Murray

Former President

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John Gardner

John Gardner

Vice President, Public Policy

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Mallory Block

Mallory Block

Public Policy Analyst, CED

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