The Rise and Fall of ESG - and What Next for Sustainable Finance?

In the early 2020s, the integration of Environmental, Social, and Governance (ESG) principles into corporate strategy and investment decisions was widely regarded as a progressive step toward responsible capitalism. But it has since been the subject of a virulent backlash, most notably in the United States, as conservative critics have vilified ESG practices as “woke capitalism” and a threat to market freedom. The re-election of Donald Trump to the presidency has further galvanized this backlash, prompting many major firms to publicly scale back their ESG commitments.

Yet skepticism toward ESG is not confined to the political right. Many progressives have also welcomed ESG’s demise, saying that the concept is ambiguous, susceptible to greenwashing, and highlighting the limitations of market-based solutions to systemic environmental and social challenges. They argue that meaningful change requires more robust, government-led reforms to the financial system.

Our panel of experts will chart the rise and fall of ESG, debate its merits, and present their vision for the future of sustainable finance. Join us for a critical and timely conversation on the role of finance in shaping a sustainable and equitable society.

Meet the speakers

Kenza Bryan, Climate Reporter, the Financial Times.
Kenza Bryan is a climate reporter for the Financial Times in London. Previously she reported on foreign and consumer news for The Times and The Sunday Times, before following the money behind tropical deforestation in the Congo Basin and Brazil for Global Witness. 

Dr Benjamin Braun, Assistant professor in political economy, European Institute, London School of Economics & Political Science.
Benjamin Braun is an assistant professor in political economy. His research interests include the role of finance in capitalism, macrofinance, and the green transition. His academic work has been published in, among other journals, Perspectives on Politics, Socio-Economic Review, and Review of International Political Economy. He is currently writing a book about asset manager capitalism, under contract with Chicago University Press. 

Maeve O’Connor, Responsible Investment Manager, Nest Pensions.
Maeve is a Responsible Investment Manager at Nest, where she covers climate and nature themes. Before joining Nest, Maeve spent three years as an oil and gas analyst at Carbon Tracker, a financial think tank that researches climate-related investment risk. She previously held roles in corporate finance and trading at Bank of Ireland, and in financial regulation at the European Central Bank. She holds an MSc in Economics from the College of Europe and a BA in Philosophy, Politics, and Economics from Trinity College Dublin.

Chair: Dr Fergus Green, Associate Professor in the UCL Department of Political Science and School of Public Policy.
Dr Fergus Green is an Associate Professor at UCL. His research is concerned with questions of politics, governance and justice arising from the transition to a low-carbon economy. His current research focuses on: green new deal-style integrated policy programmes; the “just transition” agenda; and the politics and governance of phasing out fossil fuels. 

Our Policy & Practice seminars bring together policy makers, practitioners and academics to discuss key issues in politics. All seminars are free to attend and open to all.

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If you plan to bring a group of 10 or more, then please contact spp@ucl.ac.uk and we will book you on. We love being joined by school and sixth-form groups, and encourage students to ask questions during the Q&A - don’t be shy! 

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Recording

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Seating and tickets

Seats are allocated on a first come, first served basis. We cannot guarantee you a seat, but it is very unusual that we have to turn someone away.

Accessibility

• The corridor outside the lecture theatre(s) is sufficiently wide enough (150cm+) to allow wheelchair users to pass.
• There is step free access into the lecture theatre(s).
• The door opening width(s) is/are 75cm+ for the lecture theatre(s).
• There are designated spaces for wheelchair users within the lecture theatre(s), located at the back.
• There is level access to the designated seating from an entrance.
• There is space for an assistance dog.
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• There is not a visual fire alarm beacon in the lecture theatre(s).
   

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