There is something sordid taking place out there. Over the past few weeks, shareholders – that is, investors, asset management firms, banks and pension funds - blocked proposals to accelerate carbon emission reductions at oil & gas producers including BP, Chevron, ConocoPhillips, ExxonMobil, Occidental Petroleum, Shell and TotalEnergies. But, wait: aren’t we in a climate emergency with clarion calls by the IPCC and the IEA to have zero new oil, gas and coal developments anywhere in order for the world to have a chance to reach net zero by 2050? The Angry Clean Energy Guy on why a far harsher light should be shone on what institutional investors are actually doing, rather than wasting time listening to their rivers of words about climate “action”, “responsible” investing and ESG “policies”.
There is something sordid taking place out there. Over the past few weeks, shareholders – that is, investors, asset management firms, banks and pension funds - blocked proposals to accelerate carbon emission reductions at oil & gas producers including BP, Chevron, ConocoPhillips, ExxonMobil, Occidental Petroleum, Shell and TotalEnergies. But, wait: aren’t we in a climate emergency with clarion calls by the IPCC and the IEA to have zero new oil, gas and coal developments anywhere in order for the world to have a chance to reach net zero by 2050? The Angry Clean Energy Guy on why a far harsher light should be shone on what institutional investors are actually doing, rather than wasting time listening to their rivers of words about climate “action”, “responsible” investing and ESG “policies”.