If you work in any large organisation in the UK or the West over the last few years, you will be well aware of the cultural capture by left-leaning values that has engulfed CEO's and Human Resources teams.
Aware that trying to engineer upwards growth for their business all the time is hard work, Chief Exec's have rushed to discover the need to promote diversity and inclusivity and set these cultural targets that are rather easier to achieve - but achieving them allows the same bonus to be earned.
The new wave of course is climate change and the impact on companies of this. In some ways a big positive, flying junior staff around the world for various not so important meetings has been ended by the pandemic - at no loss the the staff or companies really in the Zoom enabled ear. Lower carbon miles must be a good thing in the round, but this has been a side benefit of the pandemic, not the result of firm action by companies.
Reducing investments in oil and gas, like tobacco and arms before, has proved easier and also allows for some wiggle room when finding somewhere to blame for poor investor returns. As does overly investing in green energy and infrastructure projects where lower returns can be promised in return for some feelings of moral superiority.
In fact, many centuries ago the protestant reformation was started by Martin Luther, angry at indulgences sold by the Pope's to absolve people of their misdeeds. The new found obsession with Sustainability seems to have many similarities - look at the rich and famous flying into Glasgow to espouse their morality and direct everyone else's behaviours, much like the Papacy of the Middle Ages. Pontificating in Glasgow has a nice ring to it, eh?
Returning to avarice driven CEO's, the new Net Zero mandate is manana from heaven for them. They will be able to run their large companies with a view to reducing emissions, lets not worry about profits and market share, all very difficult in a competitive market. Instead we can have lots of internal meetings about vision and strategy, employ consultants and come to some obvious conclusions, like abandoning offices and commuting in due course. All the while getting paid the full whack of pay and with ready made excuses for any economic downside "its for the good of the planet."
Their personal jets, houses, jacuzzi's and mistresses jewellery will I predict remain untouched - as much as those of Prince Charles. Whether the world gets any benefits; maybe, maybe not.
