Semafor Net Zero: One Good Text
After winning a $20 billion contract with Google, Intersect Power wants to “create a whole new class of real estate.”
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National oil companies (NOCs) produce about half of the world’s oil and own the bulk of oil and gas reserves. They are also large issuers of bonds held by international financial institutions. Their ESG risks should be a matter of great concern.
The rise of ESG investing—investment focused on environmental stewardship, social responsibility, and corporate governance—in the 21st century has created significant pressures on oil companies.
On September 22, 2020, China’s leader, Xi Jinping, made a surprise announcement about China’s climate ambitions during remarks to the United Nations General Assembly.
The energy transition strategies of international oil companies have come under increased scrutiny from investors and the media as countries across the globe grapple with targets to reduce greenhouse gas emissions.