probably know) fits under "S" in "ESG" although DEI is not the vernacular that is used. The interest on the sectors is the "E", and "G" mostly deals with corporate structure, risk, controls, etc. You probably know all this but in case not.

Orsted has halved in value, in large part due to the headwinds that are constantly posted on this site, but the ratios I posted are as of today, so the point stands. the discrepency exists based on ESG limitations - most relevantly the Government Pension Fund of Norway and other huge European pension funds have eliminated investment in fossil fuels (link), and every Norwegian bank with the Exception of DNB prohibits lending to fossil fuel providers. Meanwhile, all the alternative energy capital raised is chasing two or three investable companies. It is a very inefficient allocation of capital. I also think there is a growing realization of this destructive which also probably accounts for some of the decline in price, but that is really anecdotal.

As for your experience and Boca's, I am not sure what to say - these "S" contraints affect every HR decision we make and that of each of our competitors. Maybe I can find a link of the most recent survey I filled out or at least summarize it for context. I do think it is more pronounced here in Europe than the US, but I also think I am closer to the norm than your experience - even in the US.

Aside: is it lost on any of these Norwegian politicians the irony of the Pension Fund of Norway eliminating investment in fossil fuels? WTF do they think the wealth in this fund came from?


[Post edited by nyhoo at 01/15/2024 12:52PM]