Chevron's shocking sustainability news

I emailed Michael Muyot, president and founder of CRD Analytics, which develops the index for Nasdaq, thinking perhaps that Chevron was included because the index focuses only on disclosure, not performance. No, he told me, the index

is powered by a rules based methodology that takes into account both disclosure and relative performance. It employs 141 environmental, social and governance performance metrics …

I understand how some companies like Chevron are very controversial due to news headlines and public statements but we have always looked at sustainable development and investing from a much broader and more holistic perspective.

Hmm. It’s hard for me to imagine how a “broader and more holistic perspective” can ignore the threat that companies like Chevron (and to a lesser degree their customers, i.e., you and me) pose to the planet. The oil industry isn’t moving away from fossil fuels fast enough, and with the occasional exception (Shell), the industry fights against government policies, like a price on carbon or an end to their subsidies, that would make it easier for them to transform themselves. There’s nothing sustainable about that.

Photo of Chevron logo on a gasoline station provided by Denis Kuvaev via Shutterstock.com