Now the next great ‘sin stock’ sector—Big Oil—faces challenges in convincing investors and society that it could still be part of the solution, not the problem, in a world which is increasingly sensitive to the impact of climate change on the planet and people.
By Tsvetana Paraskova – Jan 02, 2020, 4:00 PM CST
Amid growing concerns about climate change, activists, shareholders, and many investors have started to see oil companies as the next ‘Big Tobacco’ set of toxic stocks because of Big Oil’s continued investment into fossil fuel-derived energy.
Despite climate activists’ demands that oil firms ‘leave it in the ground’, Big Oil are not getting out of their core oil and gas business, nor they are planning to do so, because the world will continue to need oil and gas in the foreseeable future, Shell’s chief executive Ben van Beurden says.