The author argues that ESG (Environmental, Social, and Governance) frameworks, while well-intentioned, are flawed and ultimately harmful to developing nations. The author contends that ESG promotes Western priorities at the expense of local development needs, leading to neo-colonial economic control. ESG’s focus on environmental sustainability, while important globally, often overlooks immediate challenges faced by developing countries, such as poverty and access to basic services. Additionally, the author criticizes the standardized nature of ESG, its reliance on Western norms, and its financialization through ratings agencies, which often fail to accurately reflect local contexts. These issues have led to growing skepticism surrounding ESG, prompting some companies to avoid promoting their ESG initiatives altogether. Ultimately, the author argues that ESG is no longer viable and proposes a shift towards more localized and actionable strategies that genuinely align corporate purpose with sustainable development.

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