ESG investing, also known as sustainable investing, has witnessed explosive growth over the last few years. However, ESG critics are now claiming that ESG investing in its current form may not help the environment or create positive social change.
“Companies will continue focusing on producing efficiently and economically…That’s not going to change,” Travis Wofford, chair of Houston’s Corporate Department at Baker Botts, told Hart Energy’s Faiza Rizvi.
“Investors may still expect best practices from an environmental perspective and safety perspective and expect the same returns on investment,” he added.
Wofford also explained how the current market environment has made investors realize that fossil fuels are needed for a successful energy transition.
“There are many investors who had moved away from traditional oil and gas and their portfolios aren’t performing well,” he said.
“There was a moment in time when people had said oil and gas is not sustainable and we’re all going to move to net zero tomorrow,” he noted. “However, in the current commodity environment, people have realized that oil and gas isn’t going away and that you can have a sustainable product using existing hydrocarbon resources.”
2022-07-01 - The new company, Chord Energy based in Houston, has a premier Williston Basin position with top tier assets across approximately 972,000 net acres and a pledge to return 60% of its free cash flow to shareholders.
2022-07-01 - Four years after picking up a Haynesville, Eagle Ford and Delaware Basin package for $10.5 billion, BPX Energy is delivering $1 billion a year in free cash flow to parent BP Plc. CEO Dave Lawler spoke with Oil and Gas Investor Executive Editor-at-large Nissa Darbonne on the company’s 2022 outlook and more.
2022-07-01 - Following the acquisition of Red Bluff Resources and Bricktown Energy, Citizen Energy’s Midcontinent position now encompasses 326,000 net acres, 98% HBP.
2022-07-01 - Today’s featured 25 Influential Women in Energy honoree is Dianne Ralston, chief legal officer and corporate secretary for Schlumberger Ltd. based in Houston.
2022-06-30 - Despite skepticism around the energy transition and net-zero goals, some countries and companies are already making progress. Here’s how.