Commentary Corporate virtue-signaling is the new black. In this era of hyper-connectedness and social media shaming campaigns, global mega-companies no longer battle over who can offer the best products for the best price. Instead, they fight to see who can sound the greenest. The trend is fueled by environmental, social, and governance (ESG) investing, which pressures corporations into adopting politically correct stances on issues from climate change to gender equality—on pain of total divestment if companies don’t toe the line. But a new ESG report from an oil and gas pioneer is turning the anti-fossil fuel financing movement on its head. What if, instead of apologizing for needing fossil fuels, we celebrated the role of affordable, reliable energy in ending poverty around the world? After all, if banks and investment firms want to prioritize investments that provide the most benefit to society, they can surely do no better than oil, …
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