Dr Daniel Cash

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Economic Governance

From Fiduciary Duty to Duopoly: Making Sense of ESG Ratings in 2025

From Fiduciary Duty to Duopoly: Making Sense of ESG Ratings in 2025

The Fraser Institute’s new report warns that ESG ratings are ‘a lawsuit waiting to happen’. The phrase makes for a striking headline, tapping into wider anxieties about sustainability investing. Yet this framing potentially misrepresents both the legal foundation and the actual function of ESG ratings in finance today. The

Who Must Lose for Debt to Work?

Who Must Lose for Debt to Work?

The Price of Freedom In 1825, Haiti gained international recognition of its independence from France (and was recognised by France as having done so). The price was 150 million francs, paid as “compensation” to former slaveholders for the people they had enslaved. That debt consumed more than 50 percent of

Copy-Paste Governance: How ESG Regulation Is Triggering the Market - By Design or By Mistake?

Copy-Paste Governance: How ESG Regulation Is Triggering the Market - By Design or By Mistake?

A rule meant to improve ESG data quality is now drawing fire for introducing bias and operational paralysis. Under the European Union’s new ESG Ratings Regulation (EU) 2024/3005, rating providers must notify companies ‘during its working hours and at least two full working days before the first issuance