US financial watchdogs are consulting on the introduction of ESG reporting for US companies. Nell Minow makes the case for better data.
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The accountability processes of government and business are each ideal for optimising different policy issues, and we get into trouble when we let one take on the role of the other.
What has made the US capital markets the most robust and respected in the world is the combination of market- and government-based structures and especially the comprehensive transparency of our public companies. The nature of capitalism is to maximise profits, and it is up to the government to make sure that happens without externalising costs onto the public who have no capacity to provide a market-based response.
Corporate executives would always prefer l
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