One of the complaints of ESG sceptics you hear from time to time is that developed countries clean up their own economies by outsourcing polluting industries to the developed world and then re-importing the steel, cement, etc.
An interesting report. One aspect missing - we (Developed World) do not want manufacture of our aeroplanes etc exported to Asia. These industries provide well paid employment to higher skilled workers - exactly what we need in latter 21st century. In the UK there has been a lamentable lack of education & (re)training for engineering etc. Unless UK is to be a no skill low paid service economy, we need industry with skilled workers.
We did outsource minerals processing. A massive, highly polluting ánd very energy intensive industry. European CO2 emissions have crashed for a reason the passt 20 years. This has obviously not happened because of esg (which is realtively new and hardly effective) but because of rising energy costs, increased environmental charges, altered gov subsidy patterns etc. Further, since most western energy generation produces less co2, had outsourced products still be manufactured in the west they'd come with a smaller co2 footprint.
An interesting report. One aspect missing - we (Developed World) do not want manufacture of our aeroplanes etc exported to Asia. These industries provide well paid employment to higher skilled workers - exactly what we need in latter 21st century. In the UK there has been a lamentable lack of education & (re)training for engineering etc. Unless UK is to be a no skill low paid service economy, we need industry with skilled workers.
We did outsource minerals processing. A massive, highly polluting ánd very energy intensive industry. European CO2 emissions have crashed for a reason the passt 20 years. This has obviously not happened because of esg (which is realtively new and hardly effective) but because of rising energy costs, increased environmental charges, altered gov subsidy patterns etc. Further, since most western energy generation produces less co2, had outsourced products still be manufactured in the west they'd come with a smaller co2 footprint.