Big oil won, ESG lost
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
ESG is dead, or if not strictly speaking deceased, at least mutating into something unrecognisable from the investment philosophy it was at its peak sometime in 2021. The presidency of Donald Trump has likely put the final nail in the ESG coffin, but in truth the concept was on its last legs anyway, ever since it became caught up in the US’ culture wars and became a source of embarrassment— indeed legal jeopardy—for its advocates. Mainly Republican states in the US took action against big financial institutions that espoused ESG principles on the grounds they were acting against the interests of their clients, shareholders and energy consumers by pushing a green agenda ahead of financial ret
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