Gem of the day

Businessweek continues its run of excellent pieces on BP's shift from highly visible humility post-Gulf of Mexico to aggressive litigation and denial, pointing out how the company is becoming one giant law firm.

The best example is delivered through an interview with CEO Bob Dudley, who pulls no punches with lines like this one about alleged corruption in the claims process:

"We’re a big investor in the United States, and we’ve challenged this really strongly. It’s just not right."

Anyone looking for more insight into Dudley's remarkable attitude might find grist for the mill later in the interview, when he attempts to answer the following:

[Interviewer]: "Why do people hate oil companies?"
[Dudley]: "People in oil and gas are sort of perplexed by this...I absolutely, passionately, and thoroughly enjoy oil and gas."


Gem of the day

KPMG's highly scientific graph proves once and for all sustainability can deliver ROI - oh right:

Something that's actually good

Simon Zadek on the irony of systemic risk in financial markets, in a nutshell:

"Short termism delivers some specific, systemic biases in the pricing of risk. Zero carbon pricing in valuation is the exemplary case. practiced by the vast majority of investors (including many of those belonging to climate-sensitive investor coalitions). Such pricing in effect is betting on a four to six degree world, an approach that at scale is nothing less than shorting civilization itself."