The fears that emerge in siding against Trump
There is a bad climate, not only weather-wise
The latest invective launched by Trump against green policies at the UN assembly is just the latest episode to blow the lid off, given the tone used and, above all, the emblematic venue.
Ever since the election campaign, Trump has attacked and politicised the issues surrounding climate change. And he has done so in such peremptory tones, that since his inauguration in the White House, the so-called 'greenhushing' phenomenon has begun to emerge, i.e. the attitude of many companies and multinationals that downplay, conceal or refrain from publicly announcing their thoughts and progress on climate goals in order to protect themselves from potential criticism and backlash from the tycoon.
Fears that - we can testify - also emerged from some operators that Plus24 questioned but preferred to remain anonymous. 'We can talk about it, but I prefer not to be quoted'. This was the tenor of the qualms expressed, fortunately not by all the interlocutors who helped us to trace the state of the art of sustainable investment globally.
Trump's return to the White House has therefore created a climate of fear and uncertainty from which most industry groups, technology bigwigs and financial institutions want to steer clear, not only in the US where, with the current political climate, many companies are operating with the fear that some statement may backfire.
During the annual climate week in New York last week, a survey with the explanatory title 'ESG, we know we have to act, but we don't want to talk about it' was the subject of debate. The majority of American companies were still in favour of setting and achieving corporate sustainability goals. On the other hand, however, an increasing number of companies are progressively avoiding publicising their efforts to protect the environment. However, tangible fallout has also emerged in terms of backtracking on the path towards sustainability, with many top executives admitting that they are still acting on climate change, but with less energy.
