I read somewhere that BlackRock has essentially integrated ESG as a driver of a corporation's value. Apparently, they've done this by creating an "ESG" score which is used as a variable in their Aladdin software which serves as a platform to manage investments. To this end, every public corporation is being valued in some part based on their ESG score. Additionally, their Aladdin software is widely used by investment institutions, meaning that in some way, capital flow is being determined by ESG requirements. Is this understanding correct and if so, how do you see this shaping the business landscape?
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That is what ESG is supposed to do, yes. They call it "nudging" these days, but I think there's a more fitting term for it: Extortion.
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