CNBC: “Bank of America CEO says new ESG rules are needed to reboot capitalism” #WEF

  • Bank of America Chief Executive Brian Moynihan told the World Economic Forum in Davos that official global standards on sustainability and climate were needed to “align capitalism with what society wants from it.”
  • Moynihan supports the work of a new International Sustainability Standards Board.
  • “An investment manager, a consumer, society, others can sit there and say, here’s a line that is acceptable and you’re either above it or below it,” Moynihan said.
  • “If you’re below it we shouldn’t do business with you.”

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