Finance Media Monitor | 8.14.23



McDonald’s Corp. has removed the term “ESG” from parts of its website, coinciding with Republican criticism of environmental, social, and governance initiatives. At the same time, concerns over the clarity and consistency of ESG scoring have led Norway’s sovereign wealth fund to support an EU Commission proposal to overhaul the ESG system

This trend of institutions distancing themselves from ESG and its metrics presents both an opportunity and a threat. ESG’s demise could usher in a more robust sustainability reporting framework, or it could leave the market without a meaningful system of measuring outcomes other than pure profits in a way that thwarts real progress on climate action. It’s up to corporate leaders to ensure that ESG’s future is truly actionable and transparent. 





  • Ryan Walker shared a thread: Even S&P is only dropping the score aspect of its ESG efforts. S&P will continue to provide “holistic” ESG analysis reports—despite acknowledging that findings about the effectiveness of ESG investments are “largely mixed.”
  • The State Financial Officers Foundation tweeted: We’re lovin’ it! Shining light on the #ESGscam is causing everyone to back away from ‘ESG’ even @McDonalds — fiduciary duty to shareholders rules. Dropping the letters from the website is good, but but dropping boardroom activism is where it counts.


  • August 23-25: Global Research Alliance on Sustainable Finance and Investment 2023 Annual Conference. Register here
  • August 24-26: The Federal Reserve Bank of Kansas City 2023 Economic Policy Symposium “Structural Shifts in the Global Economy.” 
  • September 17-24: Climate Group Climate Week NYC. View list of events here
  • September 20: UN Climate Ambition Summit.