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Expedia CEO Barry Diller Calls ESG nothing but “Virtue Signaling”

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the staff of the Ridgewood blog

Ridgewood NJ, at age 80, Barry Diller has been CEO of Paramount Pictures and then started Fox Television. Now the head of the travel company Expedia, he’s had enough of ESG and is saying so.

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Environmental, social, and governance (ESG) investing refers to a set of standards for a company’s behavior used by socially conscious investors to screen potential investments.

Environmental criteria consider how a company safeguards the environment, including corporate policies addressing climate change, for example. Social criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. Governance deals with a company’s leadership, executive pay, auditsinternal controls, and shareholder rights.

Diller dismisses the proliferation of environmental, social, and governance standards from corporate boards as fodder for “glossy reports.”

“Most of ESG is virtue signaling, I’m afraid,” Diller told a travel conference last week, saying the time when ESG standards promoted by BlackRock and other firms are “above criticism” should end. While some ESG goals have value, most are “truly empty calories.”

3 thoughts on “Expedia CEO Barry Diller Calls ESG nothing but “Virtue Signaling”

  1. re: “ESG nothing but “Virtue Signaling”

    100% truthful and accurate…. they’ll target him and make him pay.

    1. There’s big money in virtue signaling.

  2. Wow, truth? How refreshing.

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