In today’s briefing:
- Global Backlash Against ESG (Part I)
- It Is Crucial that Corporate Governance Practices that Are Formally in Place Actually Function
Global Backlash Against ESG (Part I)
- This insight highlights the global backlash against ESG. This is a collaborative project between Douglas Kim and Kyle Rudden.
- In particular, my insight will focus on three recent places of major backlash against ESG including United Kingdom, Texas, and Florida.
- Despite efforts by ESG investors to increase renewables, a return to more BALANCED energy supplies is more likely, expanding the use of nuclear power and domestic oil & gas sources.
It Is Crucial that Corporate Governance Practices that Are Formally in Place Actually Function
- The reason why TCFD’s progress is the slowest is that prudent companies are still exploring the minimum line that should be taken by other companies to see how they’re responding.
- The lack of specific numerical targets for ensuring diversity, which are not explicitly stated in the Corporate Governance Code, is the main reason for the slow progress.
- While some formal progress has been made, such as the establishment of nominating/compensation committees, there are many challenges ahead. Scandals have occurred even in companies that have implemented formal standards.
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