00:00:00
I'm vid Hanish feistein and faculty director of the Wharton schools ESG initiative it's estimated that in order
00:00:05
to move the planet from its current trajectory towards four or five degree warming scenario to one of one and a
00:00:10
half or two degree warming scenario we're going to need to mobilize 50 trillion dollars of investment tens of
00:00:16
trillions of dollars are also needed to address some of the racial Injustice and
00:00:19
social injustice factors that our society and other societies face across different identity groups in order to
00:00:25
reach that level of investment we need to mobilize the power of financial markets we need to mobilize private
00:00:30
capital in order to do that we need to make the business case we need to show that it pays it's not enough to exhort
00:00:36
people to demand people to Advocate that people do more we need to show that it delivers revenues minimizes costs it
00:00:44
raises efficiencies that's really what the ESG movement is all about it's not
00:00:48
political it's not woke it's not ideological it's just good Finance it's
00:00:51
good economics it's finding a way to incorporate environmental social and governance factors into the profits and
00:00:58
loss statement into an investment