George Serafeim

George Serafeim

Board Member at Liberty Mutual Insurance Group
Education:
University of Piraeus (Undergrad) London School of Economics and Political Science (Graduate) Harvard University (DBA)
Biography:

George Serafeim serves as a Director at Liberty Mutual and is associated with various organizations, including Harvard Business School, Summa Equity, Richmond Global Sciences, Terra Alpha Investments, dss+, High Meadows Institute, Athens Exchange Group, KKS Advisors, and Sustainability Accounting Standards Board. His educational background includes a Bachelors in Banking and Financial Management from the University of Piraeus, a Masters in Accounting and Finance from the London School of Economics and Political Science, and a DBA from Harvard Business School. In terms of political contributions, George has donated $1,000 to Democrat causes, with no reported contributions to Republican causes. For further details, you can visit the OpenSecrets URL and FEC URL for more information.

Profile Details

Total Political Contributions More information

Republican Support
Democratic Support
$0 $1,000

Affiliated Companies

Liberty Mutual Insurance Group

Liberty Mutual Insurance Group

Key Statements

"We're observing over time now that firms with superior ESG performance on material dimensions, meaning on strategically important dimensions, given the industrial context and the geographic context that different organizations are operating, are starting now to trade at valuation multiples that are higher compared to their competitors that are not having strong ESG performance."

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"It needs to be that ESG is viewed as a strategy instead of viewing it as a program. And a fundamental mistake that I have found many organizations making in this space is actually viewing ESG as a reporting exercise instead of a strategy exercise and actually allowing reporting to drive strategy while it should be exactly the other way around, meaning that strategy should be driving reporting."

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"One of the things that I want to emphasize around this idea is that ESG and actually improving performance on ESG dimensions is not something about just doing more on just everything, but actually leading organizations. What they're finding is that you need to be strategic about understanding what are your core capabilities and where you can add most value. So for example, if you are running a financial institution, it's actually through your lending and underwriting practices and really about pricing of risk that you can actually add more value."

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"ESG cannot be something that is a separate department inside an organization. It needs to be embedded inside the organization in terms of what everybody's doing. "

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"So I think it's a two way approach. I think you need both pressure on the government side and changing actually really just government regulations. I think we all need to discuss I mean, we need a global carbon tax. We're not going to solve climate change if we don't have probably a high price on that. And this needs to be something that is happening."

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"I deeply believe that, for example, diversity is a very important issue. I would gladly join a less diverse organization if I think I have the agency to create a more diverse organization. Same thing about climate change."

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