According to a meme doing the rounds among sustainable finance professionals, the fastest thing on earth at the moment – ahead of a cheetah, an aeroplane and the speed of light – is “people becoming ‘specialists’ in ESG”.
This may be a joke, but its popularity reflects rising concerns in the industry about a new phenomenon some have dubbed “competence greenwashing”.
Old environmental, social and governance (ESG) hands are appalled to find that bankers, fund managers and corporate executives with no experience of the field are being appointed to senior sustainability roles, and that having completed an introductory online course now qualifies as expertise.
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