Green Standards, Corporate Moats: How ESG Became the Establishment's Most Effective Weapon Against Competition
Environmental, Social, and Governance investing has been marketed to the American public as a mechanism for holding corporations accountable to higher ethical standards. The evidence suggests it functions more reliably as a mechanism for protecting the corporations large enough to have helped write those standards in the first place. Small businesses and family-owned enterprises are bearing the compliance costs while multinational conglomerates consolidate their market positions behind a wall of