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Toronto-Dominion Bank announced recently it won’t loan money toward any oil and gas or related development in the Arctic. While this may elicit joy from the woke anti-fossil-fuel global warmists, this was in reality a very easy decision for TD. So too will it be for others like investment banks, institutional investors, and financial entities conscious of the environmental, social and governance evaluation. Environmental, social and governance scoring by outside consultants and pressure groups is now used by pension funds, mutual funds, endowment funds and sovereign wealth funds, along with other institutional investors. It’s used to determine whether a corporation, or a specific investment vehicle, is operating according to ethical and environmentally sustainable principles. In addition, it helps indicate if they’re adhering to good governance practices (shareholder democracy, performance-related executive pay, diversity of board of directors and senior management, avoiding involvement in corrupt practices or odious jurisdictions, or slavery). FROM THE ARCHIVES: Weak oil and gas investment still plagues Canada by Mark Milke and Lennie Kaplan When it comes to oil and gas development, a number of things are becoming clear. The first is that there’s no shortage of oil or gas in the world. Indeed, there’s a surplus […]
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