ESG assets are projected to reach $50 trillion by 2025, constituting over a third of the estimated $140.5 trillion in total global assets under management (Bloomberg). The literature on ESG is evolving rapidly, see for instance, Fama (2021); Alex Edman (2022); Cornell. (2021); Cornell & Shapiro (2021) and Cumming et al (2024) among others.

Alex Edman (2022) argues that ESG holds significant importance yet is not uniquely exceptional. He states that companies should not be praised solely for enhancing their ESG performance, neglecting other intangible assets that generate long-term financial and social returns.

Prior studies also find that although ESG investing may have positive societal impacts, it does not necessarily lead to higher returns for investors; However, as the polarisation regarding ESG grows, stakeholders with differing and sometimes conflicting ideologies and interests engage in debates over its relevance and impact (Forbs, 2023. Larcker et al (2022) discuss seven commonly accepted myths surrounding ESG, revealing that many lack empirical evidence. Alex Edman (2024) proposed a significant shift in the practice of ESG to the informed creation of long-term value, namely Rational Sustainability.

The Cardiff Sustainable Finance Research Group (CSFRG) and the Sustainable Financial Innovation Centre (SFiC) at the University of Birmingham are proud to announce the Sustainable Finance Conference taking place in person at Birmingham Business School on Friday, 25 October 2024.