In August, MDN brought you the good news that the S&P (Standard & Poor’s) credit rating agency, called S&P Global Rating (the largest of the Big Three credit-rating agencies), had dumped its system of numerically ranking corporate borrowers on their ESG risk on a scale of 1 to 5 — just two years after implementing it (see S&P Global De-Wokeifies – Dumps ESG Scores from Credit Ratings). S&P said the company would rather include information about a company’s ESG (environment, social, governance) efforts in its analytical discussion section and not with a simple numerical value. Smart move. But what’s this? Is S&P “re-wokifying” once again? S&P Global Commodity Insights, another division at S&P, announced yesterday it is launching “carbon intensity measures and associated carbon-accounted price assessments” for eight key North American natural gas trading hubs. One of them is in the Marcellus/Utica.
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Supposedly JPMorgan Chase remains the world’s #1 largest funder of fossil fuels since the so-called Paris Agreement was adopted by 196 of the world’s countries in December 2015. The Paris Agreement calls on governments to use force to ensure the global average temperature (that nobody seems to be able to pinpoint accurately) doesn’t rise more than 1.5 degrees Celsius by 2050. It’s a sham agreement aimed at getting average citizens to give up their freedom in the name of saving the planet. Total B.S. But…back to JPMorgan Chase, which has just published a report called “The Methane Emissions Opportunity” (full copy below). In the report, JPMorgan says any company they finance in the future must adhere to Scope 1 and 2 emissions to be so-called net zero. Or they won’t invest in or finance you.
Read More “JPMorgan Signals It Will Stop Funding Certain O&G Projects”