ESG is necessary but insufficient. The IPCC “code red for humanity” report delivered an expected but still major jolt to the global financial community. Now, the question is, how should global finance respond to the report’s urgent recommendations? Is the widely adopted ESG approach the best way to successfully mitigate carbon emissions according to Paris Agreement goals? For an answer, we could start by looking at it through the lens of “fit for purpose,” a British term. In essence, is something working for the purpose for which it was created? That’s…
