A growing number of woke American corporations are touting their efforts to fight so-called climate change as part of their “Environmental, Social and Governance” portion of portfolios, including in second-quarter earnings reports.
“For corporates, meeting ESG demands from investors is becoming an increasingly formidable task, requiring sustainability reports and additional ESG headcount,” Goldman Sachs strategist David Kostin wrote according to an Axios report.
That is because investors are “continuing to ask for ESG-themed investment products, including green bonds,” according to Goldman Sachs.
Axios referred to a recent doomsday report produced by the United Nations Intergovernmental Panel on Climate Change, claiming the record hot weather in July is a direct result of man’s destruction of the planet and there are just years are left to address it.
Axios reported on some of the comments made by corporate executives on the subject of climate change:
- “Our strategy aligns with the world’s growing need for affordable, reliable and cleaner energy that is necessary for human prosperity and global economic development. … [We] support the aim of the Paris Agreement and a global ambition to achieve net-zero emissions by 2050,” a Hess executive said.
- “We’re moving forward with investments in energy reduction, increased utilization of renewable energy and evaluation of new low-carbon technologies,” said an exec at LyondellBasell Industries.
- “As part of our ongoing ESG efforts, we recently started purchasing 100% renewable solar energy for our San Diego headquarters,” Qualcomm announced.
- “[We] announced an action plan that consists of 3 climate roles: committing to set a science-based target; sourcing 100 percent renewable electricity by 2030; and joining The Climate Pledge, co-founded by Amazon in Global Optimism,” the Interpublic Group of Companies said.
- “Our 2020 sustainability report highlights 7 new environmental, social and governance goals we’ve set to achieve by 2030,” Caterpillar said. “One of these goals is to ensure that 100 percent of Caterpillar’s new products through 2030 will be more sustainable than the previous generation”
Axios reported on the backlash of what climate change zealots say is corporate “greenwashing,” or taking steps that seem to address the issue but do not actually have an impact.
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