ESG investing
The initials stand for “environmental”, “social” and “corporate governance”. The amount of money devoted to ESG investing increased substantially in the second decade of the 21st century, and is linked more broadly to belief in stakeholder capitalism. Supporters said that companies which neglected these issues would eventually come a cropper in the face of regulation, consumer backlash or scandal; opponents argued that the criteria for ESG investing were often woolly and that companies simply paid lip service to the issues involved. For (much) more detail, read our Special Report.