Much as we’d like to, we can’t ignore the fact that ESG (environmental, social, governance) programs at oil and gas companies are all the rage. We’re not against good environmental stewardship–quite the opposite. It’s important! But ESG is routinely used by the left to try and stamp out the use of fossil energy. Still, drillers and pipeline companies ignore implementing ESG programs at their own peril. Rystad Energy, an independent energy research and business intelligence company for the global energy industry, provides the best evidence yet that ESG does make a tangible difference for the bottom line. Rystad evaluated the ESG performance of 43 public oil and gas producers in the US and Canada, comparing company stock prices with ESG performance. Here’s what they found…
