The Federal Reserve is perhaps the most significant independent economic actor in the US. Yet it has surrendered to Trump – the Fed Board withdrew from a global network that brought together central banks to improve climate risk management.
The ‘rights of nature’ is an allied approach, but nature needs something with more and broader teeth, that can elicit a moral and political consensus on the need for nature conservation.
If policymakers and ESG proponents fail to ensure that the ESG agenda is equitable and credible – directly benefiting working class and rural communities – the credibility of ESG will deteriorate further.