Executives Are Backing Away From ESG as Recession Risks Mount

Chief executive officers are putting a number of ESG goals on hold as they try to prepare their businesses for the fallout from a possible recession, according to a study conducted by KPMG.

About half of CEOs surveyed “are pausing or reconsidering their existing or planned ESG efforts in the next six months,” KMPG said. Roughly a third “have already done so,” it added.

“As CEOs take steps to insulate their businesses from an upcoming recession, ESG efforts are coming under increasing financial pressure,” said Jane Lawrie, global head of corporate affairs at KPMG.

Most executives surveyed said they ...