Big oil won, ESG lost
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
ESG is dead, or if not strictly speaking deceased, at least mutating into something unrecognisable from the investment philosophy it was at its peak sometime in 2021. The presidency of Donald Trump has likely put the final nail in the ESG coffin, but in truth the concept was on its last legs anyway, ever since it became caught up in the US’ culture wars and became a source of embarrassment— indeed legal jeopardy—for its advocates. Mainly Republican states in the US took action against big financial institutions that espoused ESG principles on the grounds they were acting against the interests of their clients, shareholders and energy consumers by pushing a green agenda ahead of financial ret
Also in this section
2 December 2025
Oil major cites deteriorating demand and a planning debacle as it abandons one of UK’s largest blue hydrogen projects
1 December 2025
Project at Emden in northwest Germany due online in 2027, but wider ramp-up of clean hydrogen sector in Germany will require overhaul of government policy, company warns
25 November 2025
The northwest African country’s vision of integrating green power, molecules and steel is alive and kicking, and serves as a reminder of hydrogen’s transformative potential
19 November 2025
The creation of ‘lead markets’ to generate hydrogen demand in the EU has potential, but implementation would pose complex challenges for producers and industrial offtakers
