- Nov 3, 2020 11:24 am GMT
The US fracking industry is redoubling efforts to convince investors that the energy transition will not put it out of business. Environmental, social and governance (ESG) matters featured heavily in last month's frenzy of defensive M&A deals, as the atomised and debt-bloated shale sector seeks to consolidate in the face of a prolonged oil price downturn. The problem for the shale industry is that access to finance has already dried up. This belated push to burnish questionable environmental credentials cannot reverse recent years of brutal Wall Street losses from bankrolling unconventional oil and gas extraction.