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Investment and Rapid Climate Change as Biopolitics: Foucault and Governance of the Self and Others through ESG

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  • Timothy W. Luke

    (Department of Political Science, Virginia Tech, 531 Major Williams Hall, 220 Stanger Street, Blacksburg, VA 24061, USA)

Abstract

Environmental, social and governance (ESG) investment strategies today are an established practice in personal and public finance. They also provide crucial benchmarks for corporate social responsibility policy in gauging the performance of due diligence and return on investment by financial managers. This study explores the growing conflict within these economic and policy networks over “value-oriented”, or total financial return, and “values-oriented”, or comprehensive non-financial impact, capital investment in recent years. How to balance these two discursive constructions of value in the pursuit of “sustainability” for both the economy and the environment at the same time is an operational challenge that managers, environmentalists and scientists have not yet fully answered. It also indicates how Michel Foucault’s approach to the power/knowledge nexus in biopolitics provides a useful perspective on these ideologically and politically charged debates over how to invest capital and steer business activity to deliver solid returns in the market as well as support more ethical and economical public policies to respond to climate change, social injustice and governance failure.

Suggested Citation

  • Timothy W. Luke, 2022. "Investment and Rapid Climate Change as Biopolitics: Foucault and Governance of the Self and Others through ESG," Sustainability, MDPI, vol. 14(22), pages 1-11, November.
    • Handle: RePEc:gam:jsusta:v:14:y:2022:i:22:p:14974-:d:970839
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    References listed on IDEAS

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    1. Delyse Springett & Timothy W. Luke, 2013. "Corporate Social Responsibility: An Uneasy Merger of Sustainability and Development," Sustainable Development, John Wiley & Sons, Ltd., vol. 21(2), pages 83-91, March.
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    Cited by:

    1. Jialin Yan & Haibo Hu & Yiruo Hu, 2024. "Does internal control improve enterprise environmental, social, and governance information disclosure? Evidence from China," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(5), pages 4980-4994, September.
    2. Deli Wang & Ke Peng & Kaiye Tang & Yewei Wu, 2022. "Does Fintech Development Enhance Corporate ESG Performance? Evidence from an Emerging Market," Sustainability, MDPI, vol. 14(24), pages 1-21, December.

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