Sustainable

Moving Beyond ESG to Impact Investing

Sustainable
Terrence Keeley
RRP:
NZ$ 58.99
Our Price:
NZ$ 48.67
Hardback
h235 x 156mm - 320pg
29 Nov 2022 US
International import eta 10-30 days
9780231206808
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The global economy is at a crossroads. Can finance fix it? Proponents of environmental, social, and governance (ESG) investing say yes. They claim that new financial strategies that consider all stakeholders are essential tools for addressing runaway carbon emissions and stark income inequality, among other ills. ESG-integrated investments already encompass more than $120 trillion in financial assets. Is this approach really leading to better social and environmental outcomes for all? If not, how can it be improved? In Sustainable, a finance-industry veteran offers an insider' s look at the promises, prospects, and limitations of ESG investing and provides comprehensive solutions that would promote more optimal outcomes. Terrence Keeley argues that too many ESG advocates have been overly optimistic about what it can accomplish. Divestment threats are ineffective tools for altering corporate behavior, and verifiably "good" companies do not systematically generate great returns. Most importantly, business and finance cannot achieve inclusive, sustainable growth on their own: regulators, public policies, civil society, and individuals must all play specific, complementary roles to shape the future we need. In particular, Keeley recommends reallocating capital from some indexed ESG and other products toward an emerging class of strategies with more verifiable social and environmental benefits. He identifies dozens of alternative "impact investing" strategies that could generate true double bottom lines. The book also highlights civic organizations with proven methodologies that can promote more inclusive, sustainable economic growth at scale. Proposing practical and actionable solutions to social and environmental problems, Sustainable offers an incisive vision of the roles business and finance can play in building a flourishing society.
A strategy for real change calls for rethinking processes in their entirety. -- Pope Francis If you' ve been looking for the definitive book on how ESG investing does and does not work-you' ve found it. Sustainable not only describes how more of your portfolio can do well and do good but also reveals in illuminating, fast-paced detail why many current ESG strategies will not. Keeley explains clearly what business and finance can and cannot do to promote better social and environmental outcomes on their own. -- Paul McCulley, former chief economist of PIMCO and UBS Americas Sustainable is a book for our times. It has valuable lessons for investors, corporations, and policy makers alike. -- Stanley Fischer, former vice chair of the Federal Reserve How can capitalism work better for the majority? How can we uplift our forgotten communities, and maximize human potential? Keeley' s Sustainable says markets, government policies, and civil society all have important roles to play-and none can succeed without the others. If you are looking for a comprehensive roadmap for progress and sensible solutions that can be implemented right now, read this book. You will be inspired. -- John Hope Bryant, chairman and CEO, Operation HOPE In a world where so many advocates sell ESG with no holds barred, claiming benefits for all involved, this book stands out, with well thought through and balanced arguments for incorporating virtue into business and investing decisions and the trade-offs involved. While ESG as an acronym may and perhaps should fade, the question of how to balance profits and virtues will stay with us. This book will help us work our way to an answer. -- Aswath Damodaran, Kerschner Family Chair in Finance Education and professor of finance, New York University Stern School of Business
Terrence Keeley has been an adviser to the world' s largest sovereign wealth funds, national pension plans, endowments, foundations, and asset managers for more than three decades as a senior client officer at BlackRock and UBS Investment Bank. In 2021, he was named a leading global "Knowledge Broker" by Chief Investment Officer.
Status: No local stock, title imported to order
ISBN-13: 9780231206808
Published: 29 Nov 2022
Published In: United States
Imprint: Columbia University Press
Publisher: Columbia University Press
Format: Hardback
Height: 235mm
Width: 156mm
Pages: 320

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