Is the U.S. stuck in a stretch of so-called “secular stagnation,” and are institutional investors looking for new ways to decarbonize portfolios and shift capital to more sustainable assets without sacrificing returns? These two important questions were up for discussion at the most recent S&P Global Academic Council gathering in New York.
S&P Global's Chief Economist, Paul Sheard, who chairs the biannual event, discussed the two important topics with scholars from top U.S. Universities. Also in attendance was this year's special guest, Nobel Laureate NYU Stern School of Business Professor Robert Engle.
Here, you will find three ways to learn of the themes discussed over the course of the day. There is a paper devoted to the discussion on secular stagnation; a paper devoted to the presentation and feedback on S&P Global’s proposal to provide transparency to principles of Environmental/Social Governance (ESG) through a new evaluation tool; and a video wrap-up of the day.
Members of S&P Global's Academic Council added to the global debate on environmental, social, and governance (ESG) impacts, while recognizing that ESG market opportunities and challenges are complex and not always broadly understood.
Council members also tackled the topic of the U.S. economy’s historically slow and uneven recovery from the Great Recession (December 2007 – June 2009*). This slow and uneven recovery gives credence to the idea that the country is mired in a so-called secular stagnation – a prolonged period of sluggish GDP growth and low interest rates resulting from permanently weakened fundamental factors.