![](https://assets.weforum.org/article/image/WbkmMw4dXhz0pzlDIEZJ3JLMyCX7xBD2izBw5hCz3ps.jpg)
The big fallacy in the backlash against ESG and stakeholder capitalism
Critics of ESG and stakeholder capitalism make some valid points – but they can't easily dismiss how the latter is increasingly important in driving enterprise value.
The United Nations is an international organization founded in 1945 after the Second World War by 51 countries committed to maintaining international peace and security, developing friendly relations among nations and promoting social progress, better living standards and human rights. The organization takes action on a wide range of issues and provides a forum for its 193 Member States to express their views through the General Assembly, the Security Council, the Economic and Social Council, and other bodies and committees.
Critics of ESG and stakeholder capitalism make some valid points – but they can't easily dismiss how the latter is increasingly important in driving enterprise value.
The COVID-19 pandemic and economic crisis highlight the importance of integrated corporate governance to translate stakeholder capitalism into practice.
The technological, environmental, geopolitical, and socioeconomic transformations are driving a re-examination of the prevailing corporate-governance model