CEOs of major US energy companies are talking less about climate and carbon emissions, according to a Bloomberg analysis of quarterly conference calls hosted by 172 US oil and gas companies. The data showed that terms such as “climate change”, “energy transition” and “net zero” have come up less frequently in recent conversations with analysts and investors. For example, during conference calls from fossil fuel suppliers this quarter, the use of language alluding to environmental, social and governance topics was down more than 40% from record highs in 2021. In fact , mentions of the terms “climate change”, “energy transition”, “emissions” and “renewable energy” all declined. The analysis was based on an automated search for terms related to ESG issues in the transcripts of the quarterly calls on the results of publicly traded energy companies holding calls in English.Before this year, energy companies were under pressure to reduce greenhouse gas emissions, leading to a surge in ESG discussions.But as fossil fuel profits soar, ESG mentions have plummeted, signaling that the industry’s focus on ESG may be waning.
Final sum:With soaring fossil fuel profits, US energy CEOs are talking less and less about ESG.
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