ESG actually carries a very large stick that can impact nation states in a jiffy, which in turn can cause havoc on the cost of borrowing, strength of currencies, the price of goods, inflation and the entire economic spectrum understandble to all of us.
HOW on earth ESG, which most of us still can't place the dollar sence in it, can cause such extreme rampage to our lives ?
WELL, ESG is able to do so because it is increasingly being used by rating agencies such as Moody's and Standard & Poor's as an important sub sector that eventually determinies a country's soverign ratings.
SO the next time, someone says to you, ESG is just a concept with no economic bite, you know what to say, YES no economic bite if you consider higher cost of borrowing, a reduced bang for the currency, higher unemployment and rise in the cost of living, as inconsequential economic events