World’s most stringent ESG rules draw backlash from EU business

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World’s most stringent ESG rules draw backlash from EU business - Business Mirror

Quick Summary:

For TotalEnergies SE Chief Executive Officer Patrick Pouyanne, the difference in the performance of his company’s stock and that of Exxon Mobil Corp., the largest producer of oil and gas in the United States, is in no small part explained by an acronym: ESG.

Also, the anti-ESG movement has thrived in the US, and if former President Donald Trump returns to the White House, his “drill, baby, drill” mantra looks set to lower the regulatory burden for producers.

As the EU expands regulations — over the European Parliament’s last five-year term about 8,000 acts were adopted, many environment-related — the US is offering incentives.