When, in 1970, the American economist Milton Friedman penned his famous op-ed in the New York Times, proclaiming that “the only responsibility of corporations is to make profits”, he pitched money-making against environmental, social and governance (ESG) principles.
For decades, corporate leaders have been fixated on generating profits, often to the detriment of ESG issues, and without thinking of their company’s or employees’ long-term futures.
