菲沙研究所（Fraser Institute）：ESG：神话与现实-论文集（英文版）

ESG-related obligations imposed on private sector enterprises cannot be defended on grounds that they will contribute to improvements in private sector efficiency and riskadjusted profitability. Nor is it appropriate in a democracy to have private sector managers and board directors determine public policy priorities. That responsibility should be assumed by democratically elected legislators. As Friedman (1970) argued more than five decades ago, the private sector makes its greatest contribu