The Long-term Business Case for Corporate Purpose
It is a phenomenon known as the “war on woke”: the political backlash against investments in companies with a corporate purpose beyond profit maximization. Some U.S. lawmakers have argued that environmental, social, and governance (ESG) investing undermines financial returns. However, a new paper by Wharton management professor Witold Henisz sets out the long-term business case for managers to pursue a wider…

