Shifts in Asset Management and ESG Disillusionment

This chapter examines the rising influence of major asset management firms like BlackRock and Blackstone, particularly in the context of waning trust in traditional banks following the financial crisis. It highlights the growing skepticism towards ESG initiatives amidst poor investment returns and government inaction on climate change, reflecting a cynicism within investment circles. Additionally, the chapter contrasts the UK's energy policies with those of Norway, exploring the complexities surrounding fossil fuel extraction and its implications for sustainable investment practices.