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Burgess COMMENTARY

Peter Burgess

Join this group if you are interested in learning about Socially Responsible Investing ideas Join this group if you are interested in learning about Socially Responsible Investing ideas 1,742 members Member Information and settingsShare group DiscussionsPromotionsJobsMembers Search Susan Axelrod CPA Unfollow Susan More Customers Using ESG Data Susan Axelrod CPA Group Manager Socially Responsible Investing ideas. http://www.bloomberg.com/bcause/?utm_source=bloomberg-menu#customers-popup Sustainability at Bloomberg | BCAUSE | Bloomberg L.P. bloomberg.com At Bloomberg, we are situated at the intersection of technology, data and finance. The success we have achieved is attributable, in large part, to maintaining a constant focus on innovation and entrepreneurship. This permeates everything we do,... Like Comment (1) Share Unfollow Reply Privately1 day ago Comments 1 comment Peter Burgess Peter Burgess Founder/CEO at TrueValueMetrics developing Multi Dimension Impact Accounting I have been an enthusiast for the Bloomberg initiative to improve access to data since it was launched I don't know when several decades ago. Data is, in my view, the key to making our complex enviro-socio-economic system work well. But at the present time, the enviro-socio-economic system has a considerable level of serious dysfunction ... excessive amounts of poverty and hunger, too much disease, huge infrastructure deficits, income inequality of historic proportions, etc. The right data can help decision makers to understand the problem and take steps to solve them. ESG is not this data. Nothing wrong with ESG but it is a small subset of what is needed. The ESG data initiatives are trying to show that improving this aspect of company behavior will improve the value of the company from the owners' perspective ... but the impact on people (S) and planet (E) is secondary. I have experience both inside the corporate organization as a CFO and outside as a consultant to the World Bank, the UN and others addressing some of the big issues that remain problematic. The idea that a for profit private sector is going to address some of these huge issues is naive, and a tiny NGO community has the funds to do reports, but not much else ... yet this dysfunction has huge risks. ESG and the related data ignores all of this, yet over time this festering crisis is a huge risk for the established status quo. If my perspective on this is wrong ... please let me know. Delete 1 second ago