Unpacking ESG

How do the diverse and varied applications of the "ESG" label give rise to the ambiguities that surround this growing field?

About this event

Environmental, social, and governance (ESG) investing has catapulted in popularity and importance in recent years. As stakeholders call on companies across industries to incorporate ESG strategies into their missions and models, a broad - and often, ambiguous - understanding of this new and growing field has emerged. As such, the “ESG” label has come to take on different definitions for different stakeholders, opening the door to misalignment, the potential for investment risk, and uncertainty about the winners and losers of ESG investing.

On Monday, January 24, at 5:30 p.m. CST, join Chicago Booth’s Rustandy Center for Social Sector Innovation and the George J. Stigler Center for the Study of the Economy and the State for the first virtual session in the new Unpacking ESG event series, which will seek to investigate the ways in which ESG is, is not, and could be a force for social and environmental impact.

This virtual event will feature a panel of industry and thought leaders in the ESG space. They’ll discuss questions including:

• What is ESG investing and what defines sustainable investing?
• What differentiates ESG from basic, good corporate social responsibility?
• What are the most important ESG metrics and are they moving the needle on environmental and social progress?
• Should there be greater standardization on ESG reporting and if so, who should lead that effort?

About the Speakers

Rob Gertner, Joel F. Gemunder Professor of Strategy and Finance, The University of Chicago Booth School of Business and John Edwardson Faculty Director, Rustandy Center for Social Sector Innovation

Rob Gertner has been on the Chicago Booth faculty since 1986. His research interests include strategic decision-making, corporate finance, organization structure, theory of the firm, and social enterprises. He has published papers in numerous scholarly journals including the Quarterly Journal of Economics, Review of Economic Studies, and the Yale Law Journal. He is co-author, with colleagues Douglas Baird and Randy Picker, of Game Theory and the Law. Gertner teaches courses in strategic decision-making, social entrepreneurship, and impact investing.

Liz Michaels, AB '88, MBA '06 (XP-75), co-Head, Aperio

Liz Michaels, AB ’88, MBA ’06 (XP-75), is co-head of Aperio (part of BlackRock), where she also led Environmental, Social, and Governance (ESG) efforts. Before that, Michaels led the $11 billion defined contribution managed accounts business at Ibbotson Associates, Inc., a wholly owned subsidiary of Morningstar, Inc. Previously, she was Chief Operating Officer of Morningstar, president of Jellyvision, Inc., an interactive firm known for its game You Don't Know Jack™, and associate dean/director of the Career Advising and Planning Services office at the University of Chicago.

Blake Pontius, CFA, Director of Sustainable Investing, Global Portfolio Specialist, William Blair

Blake Pontius, CFA, is director of sustainable investing and a global portfolio specialist. In this role, he coordinates the firm's integration of environmental, social and governance (ESG) factors in its investment processes and provides analytical support to portfolio managers on the global equity team. He is also responsible for communicating investment strategy and portfolio positioning to clients, consultants, and prospects.

Chris Wheat, '10, Executive Director, The Stigler Center, The University of Chicago Booth School of Business

Chris Wheat is the executive director of the Stigler Center. He joined the Center from the Natural Resources Defense Council, where he served as Strategy and City Engagement director for the American Cities Climate Challenge. Before the Council, Wheat held several positions in the Office of Chicago Mayor Rahm Emanuel, including Chief Sustainability Officer and Policy Chief. He holds his BA from Washington University in St. Louis and an MBA from Chicago Booth.