No mention of ESGs? Want to know why corporations participate in this idiotic charade, as well as other weirdly ubiquitous theatrics? It’s because paying lip service to this kind of stuff is a requirement for certain funds to be able to hold their stock: https://en.m.wikipedia.org/wiki/Environmental,_social,_and_c...
So corporations have a big financial incentive to do the bare minimum to satisfy ESG requirements, and carbon offsets are an unregulated sham. No surprise, the market finds a way and delivers impossibly cheap “offsets” so that such environmental stewards as Chevron, and soon Phillips Morris, can be considered to be environmentally friendly and socially benevolent enough to be included in ESG funds.
In line with this, another comment someone said "perhaps they're doing exactly their job but their job is not actually what it purports to be."
It's possible they're doing exactly their job but that it's not a job we need done. The job we need done is rapid decarbonization. So how do we do that?
So corporations have a big financial incentive to do the bare minimum to satisfy ESG requirements, and carbon offsets are an unregulated sham. No surprise, the market finds a way and delivers impossibly cheap “offsets” so that such environmental stewards as Chevron, and soon Phillips Morris, can be considered to be environmentally friendly and socially benevolent enough to be included in ESG funds.