comparemela.com

Latest Breaking News On - Stuart kirk - Page 9 : comparemela.com

Huge bank joins Putin s side in Russia s energy war on West

The year 2022 brings an end to an era of illusions: a year that saw the end of the post–Cold War era and the return of geopolitics; the first energy crisis of the enforced energy transition to net zero; and the year that brought environmental, social, and governance (ESG) investing down to earth with a thump for the year to date, BlackRock’s ESG Screened S&P 500 ETF lost 22.2% of its value, and the S&P 500 Energy Sector Index rose 54.0%. The three are linked. By restricting investment in production of oil and gas by Western producers, ESG increases the market power of non-Western producers, thereby enabling Putin’s weaponization of energy supplies. Net zero the holy grail of ESG has turned out to be Russia’s most potent ally.

vimarsana © 2020. All Rights Reserved.