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ESG will create financial bubbles just like crypto, banking body CEO says
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cnbc.comFinancial bubbles will form as investors scramble to make deals in the sustainability space, according to Tim Adams, the president and CEO of the Institute of International Finance.
Speaking during a panel at CNBC's Sustainable Future Forum on Thursday, Adams said it was inevitable that the current drive toward ESG (environmental, social and governance) would create assets that exceeded their fundamental value.
«There's always bubbles, it's a lesson of history. Anyone who thinks we won't have it is naïve,» he said.
«In times of great technological or economic transformation there's disruption, there's bubbles, we see it in the crypto markets now. We saw in the internet throughout the 1990s that all popped in March of 2000. And the weak
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