That sounds like a wise decision by them.
I know the CEO, Coo, and CFO or my company are just playing the game, and they know it’s largely BS.
It still infuriates me to listen to such stupidity.
Oh well, it’s not going away anytime soon.
In another example of glittering hypocracy, today's top article on gCaptain (as SJW lefty as needs to be) is about an ESG "bank" making a loan to Guvnor, founded by a Putin crony and oligarch.
Gunvor, the energy trading firm and shipowner cofounded by sanctioned Russian Oligarch and Putin’s long-time friend Gennady Timchenko, has secured sustainability loans worth $912 million.
The credit facility, which was launched initially at US$500 million in April 2022, got strong support from 23 banks and closed oversubscribed by over 82 percent. Gunvor may upsize the loan thanks to a US$200 million accordion feature to accommodate banks that are interested in providing loan capital after June 2022.
This is the first time Gunvor has borrowed via a sustainability-linked loan structure that tracks key Environmental-Social-Governance (ESG) performance indicators that include climate, energy transition, and human rights.
“We are grateful for the tremendous support from our banking partners during this extremely challenging period of record volatility and uncertainty,” said Gunvor regional CFO Jean Rohr. “Our partners found confidence in our strong financial results, solid liquidity management, and commitment to the energy transition”.
These ESG banks are only concerned about sending money to their socialist comrades.