ESG
But , if those who dislike ESG think they are gaining momentum , they should be aware of the pushback against the pushback .
For , in the Great ESG Face-Off , many of the banks are not blinking . And some are bristling with determination to not be derailed .
Standard Chartered chief executive Bill Winters says : “ This is not philanthropy , this is not political wokeness . This is to do the right thing for the planet – do the right thing for your business . That ’ s what we ’ ve been doing .”
In case there is any lingering doubt , he adds : “ We said we ’ re going to be thought leaders and action leaders in terms of policies around net zero and our clients have completely engaged with us . We ’ ve seen no backing away from that at all .”
A trawl of the annual reports of many of the biggest banks and other global companies , aided by ‘ Ctrl-F ’, highlights hundreds of references to ‘ ESG ’ and ‘ sustainability ’.
Citi , which has a dedicated ESG Council , writes : “ Our 2030 US $ 1tn Sustainable Finance Goal spans our business offerings
66 May 2024