After the global financial crisis, Terrence Keeley, then a top executive at UBS, did some soul-searching. What role, if any, had he played in the credit bubble and collapse that followed? It led him to make a personal commitment and create a new movement, the financial equivalent of medicine’s Hippocratic Oath, “First do no harm.”
ESG investing – pursuing environmental, societal and governance goals in addition to profits has become a huge global business. But former top BlackRock executive Terrence Keeley says it doesn’t work. He explains why and what does.