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Chevron : challenges toward low-carbon journey amid ESG and anti-ESG proponents / Saurabh Bhattacharya and Arpita Agnihotri

Author
Bhattacharya, Saurabh
Published
London : SAGE Publications: SAGE Business Cases Originals, 2025.
Physical Description
1 online resource : illustrations
Additional Creators
Agnihotri, Arpita
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Summary
By September 2023, Michael K. Wirth, CEO of Chevron Corporation (Chevron), was receiving criticism for the corporation's lack of environmental, social, and governance (ESG) initiatives amid increasing global climate change concerns. Wirth believed that the demand for fossil fuels would not decline any time soon. In contrast to ESG proponents, anti-ESG proponents, such as Vivek Ramaswamy, founder of Strive Asset Management Company, urged Chevron to depart from its current strategy of limiting fossil fuel investments and return cash to shareholders in the form of dividends. Experts opined that this call was one of the first formal calls for an oil giant to disregard environmental concerns. On the one hand, investors and anti-ESG activists pushed Chevron to increase fossil fuel production, given the vast profits that oil and gas were still generating. On the other hand, policymakers and pro-ESG activists pushed the corporation to move toward cleaner energy. How did macroenvironmental forces impact Chevron's decision regarding the fossil fuel vs renewable energy industries? Based on its core competency, should Chevron further diversify into renewable energy sources, including wind and solar? How can Wirth balance the demands of different groups of shareholders, specifically, ESG versus anti-ESG?
Subject(s)
ISBN
9781071976524 : (SAGE Business Cases)
View MARC record | catkey: 47384619