The Wall Street Journal is practicing a balanced approach to ESG reporting, as it has all energy/environmental writings for many decades. The editors are to be admired for their hard work and research.
Currently, 3.5 billion people living in energy poverty are caught between a hard place and no Plan B.
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“Why is this happening?
I have a theory that something changed when HSBC martyred senior executive Stuart Kirk, apparently for the crime of speaking his mind on climate change. Because the one thing the senior bankers and fund managers I’ve met can’t stand is an investment industry sacred cow.
The lesson which has emerged above all others over the last 30 years is lies lead to losses, including or especially lies of omission. Arguably every significant industry loss over the last 30 years has occurred because of a truth everybody knew, but nobody dared to speak.
A handful of senior bankers I talked to before the 2007-10 GFC crash quietly admitted the subprime mortgages being sold were total junk, but so long as the money kept pouring in, everyone, including me, kept quiet. Subprime was a juggernaut. I could have been wrong. What is one person’s opinion, or even a handful of critical opinions, against the massed wisdom and might, the massed consensus of the entire financial industry?”
https://wattsupwiththat.com/2022/08/19/is-wsj-quietly-practicing-more-balanced-reporting-on-climate-change/