The motivation of big corporations and the banking sector—and again, this makes sense—is not to address climate change, or, in any event, that is not their main objective. Nor are they addressing homelessness. So private enterprise has to be made to bite the bullet and focus on a much more distant horizon.
I was not able to say this earlier, but I will be very brief. We did a study on the ESG criteria last year, and we found, first of all, that there are inadequate ESG criteria in all companies. There is very high potential for greenwashing. And that is the economist speaking. Are we really able to measure progress on the environmental, social and governance levels? Mr. Edmans talked about this in his testimony earlier, that we have to combine these three points of the triangle.
Second, are we able to monitor progress quantitatively? When we apply this grid, we see that for the ordinary person, it is impossible, with what we have right now, in the financial reports, to really give big corporations or the banking sector their assurances that ESG criteria are robust criteria. That is extremely important, because we talk about ESG criteria a lot. We wrap ourselves up in these criteria, but they are not robust enough yet. Mr. Edmans talked about this earlier as well.