American companies are reversing the multiyear trend of hiring more employees in roles related to environmental, social and corporate governance (ESG) issues in an effort to increase profitability and address investor pushback, according to The Wall Street Journal.
U.S. companies shed 3,071 employees with positions related to ESG in December while only adding 2,897, continuing the trend that has been seen in half of the months in the last year of a net loss of ESG positions, according to the WSJ. The shift is in response to investors pulling their funds from companies heavily involved in ESG practices and placing their money in firms where they can get higher returns.
Read More