Anne Finucane, President of Rubicon Capital and former Vice President of Bank of America (BofA), examines the decline in investment in ESG funds and the political backlash against these strategies. Nevertheless, she points out that large companies are continuing to integrate social responsibility into their activities. ESG, which emerged in the wake of the major financial crises, is seen as a major move by companies to recognise environmental issues.

A distinction is made between companies' sustainable practices and ESG funds, the latter using ESG scores to select securities but not differing greatly from traditional funds.

Companies are committed to complete decarbonisation, but face funding obstacles in achieving this. Professor Andy King of Boston University suggests a carbon tax as an effective way of ensuring that climate commitments are met.

As for China, it is making progress in green technologies but continues to build coal-fired power stations, while the United States has reduced its emissions since 2005 and is aiming for a broader reduction by 2030.

The overall objective is to reach net zero by 2050. Legislation such as the Inflation Reduction Act and the Infrastructure Act in the US are encouraging faster and wider adoption of green energy.

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