Energy Crunch Causing ESG to Fall Out of Favor, Warns Ex-BP CEO
- Now’s not the time to ‘kick the ESG can down the road’: Browne
- BP itself has seen waning investor support for climate motions
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The former chief of BP Plc warned that investors are pushing environmental, social and governance concerns aside as fears about energy security and mounting costs take precedence.
John Browne, who ran BP between 1995 and 2007, was speaking 25 years after becoming the first boss of an oil major to acknowledge the link between manmade carbon emissions and rising global temperatures. His former company is among several large energy firms to see investor support for climate resolutions fall in recent shareholder votes.