Putin s war on Ukraine exposes the folly of ESG | Business | The Sunday Times
Russia is suddenly too toxic to touch. It is suddenly obvious that democracies need a nuclear deterrent if they are to stand up against tyrants. Coal is suddenly back on the menu for a Germany so blind to its dependence on Vladimir Putin s gas that it was about to double the capacity of its Nord Stream pipeline.
Putin s invasion of Ukraine has transformed reality in Europe and blown away the cosy assumptions on which it had operated since the fall of the Berlin Wall. The investment industry has some hard questions to answer in this bleak new light. They say the first casualty of war is truth; in finance, it has been the ESG movement s credibility.
It’s an ill wind that blows no good.