Why ESG is failing sustainable development

Our economic system has evolved to maximize financial value, confusing the means (financial activity) with the ends (society’s needs). It seeks infinite rewards from a finite system, and maximization of financial returns with few safeguards. Advocating for a transformational shift in mindset and decision-making, Marcos Athias Neto, Director of UNDP SDG Finance Sector Hub, highlights the need to focus on transforming internal management systems to integrate operating sustainably and contributing positively to the SDGs into all business and investment decision-making.