The bottom line is not ESG
28 November 2023
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In the Media
Lifestyle Economics
29 November 2023
Economic Theory
11 November 2024
Matthew Lesh quoted in The Telegraph
IEA Director of Public Policy and Communications Matthew Lesh has been quoted in The Telegraph, criticising calls for ESG motives to be enforced on all companies.
Matthew said:
“The purpose of a business is business – to maximise profits for shareholders, and in the process provide a quality product to customers and a wage to workers – not to pursue progressive left social justice goals. The golden formula, which links self-interest of business with providing a product to others, has delivered immense human prosperity over the last two centuries.
“Any deviation risks undermining Britain’s fundamental institutions. A change to the purpose of business in the companies act would add red tape, with some new quango deciding whether businesses are sufficiently achieving social and environmental goals.”
Read the full article here.
Matthew said:
“The purpose of a business is business – to maximise profits for shareholders, and in the process provide a quality product to customers and a wage to workers – not to pursue progressive left social justice goals. The golden formula, which links self-interest of business with providing a product to others, has delivered immense human prosperity over the last two centuries.
“Any deviation risks undermining Britain’s fundamental institutions. A change to the purpose of business in the companies act would add red tape, with some new quango deciding whether businesses are sufficiently achieving social and environmental goals.”
Read the full article here.
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