S&P 500 ESG added ExxonMobil despite ExxonMobil Lies - Big Oil Reality Check

[firsttruck]

S&P 500 ESG claims to rate based on factors of environmental, transparency.

Looks like S&P 500 ESG itself fails in transparency.

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Updated analysis reveals oil industry climate plans are grossly insufficient to achieve Paris Climate Goals
By OCI Team
May 24, 2022
https://priceofoil.org/2022/05/24/a...-insufficient-to-achieve-paris-climate-goals/

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Despite an array of new ‘net zero’ pledges released in the past two years, the climate promises of major U.S. and European oil and gas companies still fail to meet the bare minimum for alignment with the Paris Agreement, according to a new study released today. “Big oil and gas companies’ climate pledges and plans appear to be designed to disinform and distract, not to seriously confront the climate crisis,” said David Tong, lead author of the report and Global Industry campaign manager at Oil Change International. “This new analysis shows that not even one of the eight oil majors considered comes anywhere close to aligning their businesses with what’s needed for 1.5ºC.”

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The report finds the oil and gas majors are involved in over 200 expansion projects on track for approval from 2022 through 2025. If they go forward, these companies’ investments could create an additional 8.6 billion tonnes (Gt) of carbon pollution – equivalent to the lifetime emissions of 77 new coal power plants. A peer-reviewed study released just last week found that burning just the oil, gas, and coal in fields and mines operating now would far exceed the remaining carbon budget for 1.5ºC. “Instead of facing up to the reality of the climate crisis and cutting fossil fuel production, our analysis found that these big oil and gas companies plan to keep adding fuel to the fire,” said Kelly Trout, Research Co-Director at Oil Change International. “The few companies projecting declines in total production by 2030 appear to have a strategy of selling off dirty assets for other companies to keep exploiting, rather than winding them down.”


The rubric used to assess oil and gas companies focuses on the level of ambition to keep fossil fuels in the ground on a rapid timeline, the integrity of pledges, including their scale of reliance on carbon-sequestration, offsets or fossil gas, and commitments to centering Indigenous communities and workers. All eight companies’ climate pledges and plans are rated grossly insufficient overall, with Chevron and ExxonMobil assessed as grossly insufficient on all criteria.

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Big Oil Reality Check — Updated Assessment of Oil and Gas Company Climate Plans May 24, 2022By OCI TeamFeatured, Reports DOWNLOAD THE REPORT Published by Oil Change International.
https://priceofoil.org/2022/05/24/big-oil-reality-check-2022/


You can download the report
https://priceofoil.org/content/uploads/2022/05/big_oil_reality_check_22_final.pdf

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[SpaceYooper]

Saw an article today that said the SEC has a proposal to require ESG listed companies to disclose many of their green attributes and carbon related metrics. It was only a proposal but because it made it into an article it will lend further credence to ESG for some who won't follow up. Hell...it was probably "proposed" by ESG to the SEC with no intent to follow through.

 

[Luke42]

TSLA's stock price is so unpredictable that I can see why they'd be looking for excuses to remove it from their index.

TSLA will be back into the S&P ESG index, once it becomes less volatile. That probably means after Musk is replaced as CEO by someone less volatile and more focused on a single company, like Alan Mulally.

Give it time.

 

[OCVstar]

Funny, I plan on buying the CT because I think it’s a cool car and I think Elon is a genius. The only hesitation I have is I don’t want this f’ed up admission or these environmentalist shoving an EV down my throat. I may be cutting off my nose to spite my face. I could be perfectly happy with my ram truck.

 

[Crissa]

The only hesitation I have is I don’t want this f’ed up admission or these environmentalist shoving an EV down my throat. I may be cutting off my nose to spite my face.

Err, yeah, you are? O-o

We kinda need the environment for the whole air-we-breathe water-we-drink food-we-eat stuff, Habitat collapse, litter, anthropogenic climate change are all things which can, will, and have killed thousands of humans and most certainly will kill millions if we don't pay attention to how we affect these things.

Just like if you don't pay attention to your brake pads you will have a very bad day.

-Crissa

 

[OCVstar]

Err, yeah, you are? O-o

We kinda need the environment for the whole air-we-breathe water-we-drink food-we-eat stuff, Habitat collapse, litter, anthropogenic climate change are all things which can, will, and have killed thousands of humans and most certainly will kill millions if we don't pay attention to how we affect these things.

Just like if you don't pay attention to your brake pads you will have a very bad day.

-Crissa

 

[OCVstar]

Kinda preachy…This is exactly what I’m talking about. You made my point.

 

[Crissa]

Kinda preachy…This is exactly what I’m talking about. You made my point.

Ahh, yes, kinda childish. Which is a bit of an insult to children. They tend to actually not want to mess things up for others.

-Crissa

 

[OCVstar]

So now you go to personal insults And name calling. Again, you made my point
Thats it, I’m keeping my Ram truck. (At the risk of “killing millions” …. LOL)

 

[Crissa]

So now you go to personal insults And name calling. Again, you made my point

Kinda preachy…

Personal insults and name calling, huh?

-Crissa

 

[firsttruck]

German officials & German Federal Police raid Deutsche Bank's DWS over 'greenwashing' claims
May 31, 2022
https://www.reuters.com/business/german-police-raid-deutsche-banks-dws-unit-2022-05-31/


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The prosecutors said they were following up on news reports and a whistleblower's allegations that DWS sold investments as "greener" or "more sustainable" than they were, a practice known as "greenwashing".

The German prosecutors said "sufficient factual evidence has emerged" that environmental, social and governance (ESG) factors were taken into account in a minority of investments "but were not taken into account at all in a large number of investments", contrary to statements in DWS fund sales prospectuses.

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Regulators and policymakers have pledged to clamp down on companies making exaggerated claims about the sustainability credentials of their products as they try to cash in on booming demand for ESG investing.

Enforcement action has been minimal so far, although watchdogs are beginning to tighten the screws. Last week, the SEC said BNY Mellon Investment Adviser had paid $1.5 million to resolve charges it misstated ESG investment policies for some mutual funds it managed.

The SEC has proposed a pair of rule changes aimed at stamping out unfounded ESG fund claims, while the European Union's markets watchdog is working on a legal definition of "greenwashing" to underpin enforcement action.

 

[CyberGus]