While ESG pledges were causing many top banks to reduce funding of oil and gas businesses, recent shortages and the lure of big profits is turning that policy around. Big banks like Wells Fargo have reversed prior promises and are undertaking massive investments back into the industry.
Analyst Comment: This highlights the major weaknesses with planned control mechanisms like ESG scores and digital currencies. If it becomes more profitable to abandon these schemes, most businesses will. This is how you fight, by not participating in the nonsense.