Sustainability
Tenured Harvard Business School professor, now at Oxford University.
SFOF is the State Financial Officers Foundation whose “mission is to drive fiscally sound public policy, by partnering with key stakeholders, and educating Americans on the role of responsible financial management in a free market economy.”
DE&I is Diversity, Equity, and Inclusion where diversity refers to various traits that differentiate people and groups (e.g., age, gender, race, sexual orientation, and physical ability); where equity refers to understanding the specific characteristics and needs of each diverse individual and group; and inclusion refers to valuing, respecting, and supporting diverse people and groups.
I would like to start by issuing an apology to SFOF. In my last piece on this column, “BIG BROTHER IS WATCHING YOU: ALEC’s Doublethink Attack On America’s Free Markets,” I shower accolades on the American Legislative Exchange Council (ALEC) for its breathtaking application of Orwellian “doublethink” to keep our markets free by denying freedom to those with whom they disagree. I briefly mention SFOF, noting that on their about page they bemoan the fact that “Politics in federal and state government is increasingly polarized.” I then point out how they helpfully explain the cause of this: “Elected officials at all levels are under increasing pressure to adopt progressive policies that undermine economic freedom and hurt economic growth.” I’ve always thought that polarization requires two poles. Thus, I acknowledge that SFOF is breaking new ground in theoretical physics by pioneering the concept of “Unipolar Polarization.”
But SFOF deserves more recognition from me than this. On its homepage SFOF has a nicely designed circle which states “Our Money, Our Values: Educating Americans on the Dangers of ESG.” An American flag is draped across the circle. Putting their money where their mouth is, SFOF has produced an artistic, erudite, heartwarming, and patriotic video tutorial titled “Our Money Our Values—What is ESG?” The production quality is high. Clearly no expense was spared by these frugal financial officers. This is clearly very important to them.
Robert G. Eccles of Saïd Business School, University of Oxford is the author of a number of books on integrated reporting, sustainability and the role of business in society. His focus is on sustainability from both a company and investor perspective. Professor Eccles is also involved in a variety of initiatives to embed environmental, social, and governance (ESG) issues in real world decision making. One of these is the Sustainability Accounting Standards Board (SASB), of which he was the founding chairman. In 2018, Professor Eccles was selected by Barron’s as one of the top 20 influencers on ESG investing.
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