In recent years, environmental, social and governance (ESG) investment has emerged to play a significant role in the sustainable development sector. At the same time, criticisms of the ESG industry have grown louder.
In this first episode of PARIS21's new podcast "Climate Change: Behind the numbers", Sony Kapoor, CEO of the Nordic Institute for Finance, Technology and Sustainability and Professor of Climate, Geoeconomics and Finance at the European University Institute, joins hosts Johannes Jütting and Sasha Ramirez-Hughes for a conversation on sustainable and responsible investing, which amounted to 35.3 trillion dollars in 2021, according to latest edition of the Global Sustainable Investment Review.
In his talk, he explores the financial sector’s role in putting the global economy on a sustainable path and points out the risk of mis-selling ESG labelling as well as the need to take climate action in developing and emerging economies.
“80 percent of environmental destruction happening between now and 2050, is determined by the actions taken or not taken in developing and emerging economies,” Sony Kapoor, an experienced macroeconomist, finance and development expert, concludes.
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