There is a lot of spin in the world of ‘green’ investing and business. Companies, marketers, and public relations firms are understandably keen to portray corporate activity in the most flattering light in an increasingly eco-conscious market, whatever the underlying reality.
At a capital markets day in May, the management of Ricardo (RCDO) included “corporate decarbonisation”, “zero emission propulsion”, “global policy and funding for climate change”, and “energy transition” as key trends underpinning its growth strategy. The firm’s website is also littered with references to sustainability. Strange, one might think, for a company that takes a material chunk of its revenues from services related to the burning of fossil fuels.
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