System-level investing is not an ESG add-on—it’s what remains once you recognize that “externalities” are actually the primary drivers of reducing long-term returns. 75–94% of portfolio returns come from market-wide “beta.” Ignoring systemic risks like climate, inequality, and governance breakdowns isn’t sophistication—it’s negligence. The Handbook of System-Level Investing provides shareholder advocates with what we’ve long […]
