LIBOR Transition and ESG

  • Commissioner Hester Peirce  of SEC said that LIBOR reminds him of reading a story about werewolf. LIBOR seems to be alright, but is also very hairy and can have a nasty bite
  • LIBOR was a rate made up by bankers in absence of any transactions. The rate later came to be misunderstood and misleading. The same concern could be said about ESG metrics. ESG might give a false sense of meaning to misleading numbers