Financiers to gas industry: ‘There is a growing presumption against giving any of our clients’ money to you’

Financiers to gas industry: ‘There is a growing presumption against giving any of our clients’ money to you’

first_img FacebookTwitterLinkedInEmailPrint分享S&P Global/Platts:The gas industry has traditionally been a popular target for investment and funding given the relatively high returns from upstream projects, but the ongoing energy transition toward a lower-carbon energy sector is seeing a rapid shift in mood.“There is a growing presumption against giving any of our clients’ money to you,” Nick Stansbury from Legal and General Investment Management (LGIM) said Thursday at the European Annual Gas Conference, which was hit by climate change protests on Wednesday that forced the suspension of the event.The stark warning to the gas industry came despite much of the conference discussion being on how to decarbonize the gas sector and the energy transition, or revolution, as Stansbury put it.“The flow of capital is imperilled by this revolution,” Stansbury said.Financiers are now heavily focused on energy transition “risk” and how investments into gas projects would be perceived, saying there was a “rising” concern around environmental, social and corporate governance (ESG).ESG is increasingly used to measure the sustainability and ethical impact of investing in a company or business.More: Capital lending to gas industry ‘imperilled’ by energy transition: financiers Financiers to gas industry: ‘There is a growing presumption against giving any of our clients’ money to you’last_img

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