ESG Now and in the Future: Is There Common Ground?
The Freedom Center, in collaboration with the National Review Institute, presented this debate featuring national experts from corporate, investment, regulatory, and government sectors. The panel explored the multifaceted nature of ESG, presented arguments both for and against it, and examined whether common ground was possible.
About ESG
ESG initiatives, embraced by corporations and investors alike, encompassed concerns ranging from climate change to gender and racial equality, workplace diversity, and other social and political matters. ESG aimed to shape how companies accounted for and disclosed environmental impact, addressed social challenges, and made decisions with both immediate and long-term consequences.
At the time, the future of ESG was the subject of intense discussion, legislative efforts, legal actions, and regulatory developments at local, state, national, and global levels. These efforts centered on questions such as how to measure the impact of ESG-related decisions, assess their legitimacy, align initiatives with fiduciary responsibilities and broader societal objectives, and consider implications for freedom of speech.
While informed by cutting-edge research, the debate also examined real-life implications. A March 2023 article in The Free Press quoted Cindy Williams, formerly a Veterans Administration lawyer and then working for a private hospital, who expressed concerns about how ESG might affect her federal pension and 401(k).
“I had no objection to saving the planet. I just didn’t want to lose my money.”
— Cindy Williams (quoted in The Free Press, March 2023)Watch the Debate
Full program recording (YouTube)
Moderators
Ari Fleischer
Former White House press secretary and primary spokesperson for President George W. Bush
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Ari Fleischer was a former White House press secretary and served as the primary spokesperson for President George W. Bush. He delivered daily White House press briefings from 2001 to 2003 and served as spokesperson during the presidential recount, September 11th, two wars, and the anthrax attack. He also authored two best-selling books, including Suppression, Deception, Snobbery and Bias and Taking Heat.
Robert Gibbs
Former White House press secretary and advisor to President Barack Obama
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Robert Gibbs was a former White House press secretary and served as a top advisor to President Barack Obama for nearly a decade. He began as Communications Director for then-Senator Obama and was a key strategist in the 2008 election. He later served as EVP for Corporate Relations and Global Chief Communications Officer for McDonald’s and co-founded the Incite Agency (later part of Bully Pulpit International).
Participants
Kimberly Yee
State Treasurer of Arizona • Chief banking & investment officer
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Kimberly Yee served as the State Treasurer of Arizona and oversaw cash management and investment operations for the state budget. She previously served in the Arizona Legislature and became the first Asian American elected to statewide office in Arizona.
Andrew Behar
CEO, As You Sow • Shareholder advocacy & engagement
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Andrew Behar served as CEO of As You Sow, a leading nonprofit practitioner of shareholder advocacy and engagement. The organization advanced values-aligned investing and used shareholder power to encourage companies to reduce material risks related to climate change, toxins, ocean plastics, and DEI-related issues.
Dr. Kevin Hassett
Senior Adviser, National Review Capital Matters • 29th Chair, CEA
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Dr. Kevin Hassett served as the 29th Chairman of the President’s Council of Economic Advisers (2017–2019) and later served as a Senior Advisor in 2020, coordinating the economic response to the pandemic. He also held roles at the Milken Institute and the Hoover Institution and previously worked at AEI and the Federal Reserve Board.
Sandra E. Taylor
Former SVP Corporate Responsibility, Starbucks • Founder/CEO, SBI
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Sandra E. Taylor was the former SVP of Corporate Responsibility at Starbucks and served as Founder and CEO of Sustainable Business International. During her tenure at Starbucks (2003–2008), she led global corporate responsibility programs, including ethical sourcing standards and environmental impact reduction efforts.
