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ESG — For the uninitiated, ESG stands for environmental, social, and corporate governance. Why we don’t say ESC, I don’t know.
Its goal: draw more attention to these three tenets of a sustainable future.
The CEO of KPMG International recently published an op-ed about ESG. His hot take was to advocate for defensible, globally consistent standards when it comes to the metrics that lead us to ESG scores.
Maybe he is hinting at the ESG score of a company like Tesla actually being lower than that of some of the major energy providers whose business is 80% black gold from the ground.
Another interpretation is that KPMG likely makes suitcases full of cash consulting on ESG issues, as well as helping their clients develop ESG frameworks and methodologies for sustained sustainable investing, whatever the f*ck that means. I personally am calling BS.
Bill Thomas’ bullsh*t aside, there was an FT piece over the weekend about rethinking ESG for the future. The logic is that energy companies need to have a role in transitioning to an economy with a smaller carbon footprint.
It would appear that the war in Ukraine has opened a lot of people’s eyes to the literal obvious: the global economy needs fossil fuels to survive, and this addiction will take more than a 90-day stint-up state to recenter our chi.
One of the challenges in every newly elected government in every country is the commitment to the ESG agenda and an orderly transition towards greener, more Mother Earth-friendly solutions waivers with the whims of whatever politician is running the White House or the Parliament.
There is logically a place for EVs, solar power, wind power, clean nuclear power, and NatGas in our future, but is GM really serious about 100% EVs by 2030?
I support the movement to save the planet. But when China’s $20Tn economy runs hot with zero consideration for the rest of the world, why should the West be forced to lead the charge at the expense of economic growth?
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