As banks collude on ESG policies to reshape economies so that they are in line with the preferences of banks and other financial institutions to divest in all 3 fossil fuels, it is a very dangerous precedent.
The Environmental, Social and Governance (ESG) factors climbing up the agenda in the banking industry would have banks divest in fossil fuels. This would lead toward a world like that in the 1800’s, the last time the world was “decarbonized”.
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